25 AUGUST 2011china aluminium network
Reliance Steel and Aluminum (RS) Showing Bearish Technicals But Could Break Through $38.82 Resistance
Edited by : AL CIRCLE
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Reliance Steel and Aluminum (NYSE:RS) closed Tuesday's dramatic trading session at $38.01. In the past year, the stock has hit a 52-week low of $34.58 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $36.38 and resistance in the $38.82 range. Technical indicators for the stock are Bearish and S&P gives Reliance Steel and Aluminum (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminum (RS), look at the Dec '11 $35.00 covered call for a net debit in the $32.61 area. That is also the break-even stock price for this trade. This covered call has a duration of 115 days, provides 14.21% downside protection and an assigned return rate of 7.33% for an annualized return rate of 23.26% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 1.29%.
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