13 SEPTEMBER 2011China Aluminium Network
Reliance Steel and Aluminum (RS) Showing Bearish Technicals With Resistance At $40.13
Edited by : AL CIRCLE
1 min read
Reliance Steel and Aluminum (NYSE:RS) closed Friday's downbeat trading session at $38.50. In the past year, the stock has hit a 52-week low of $36.61 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $37.43 and resistance in the $40.13 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 Mar '12 $38.00 covered call for a net debit in the $33.20 area. That is also the break-even stock price for this trade. This covered call has a duration of 187 days, provides 13.77% downside protection and an assigned return rate of 14.46% for an annualized return rate of 28.22% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 1.19%.
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