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Reliance Steel and Aluminum (RS) Showing Support Near $75.68

Nov 09, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's option-trade picking algorithms have identified an attractive covered-call trade on Reliance Steel and Aluminum (<a href="http://www.marketintelligencecenter.com/symbol/RS">RS</a>). Look at the Mar 16, 2018 $75 covered call for a net debit in the $71.89 area.<br /> <br /> This trade has a duration of 127 days. The break-even point of this trade is the same as the net debit, which gives this trade 6.86%. If the stock closes at or above $75 at expiration this trade will return 4.32% or 12.43% (for comparison purposes only). <br /> <br /> RS closed Nov 8, 2017's trading session at $77.19. In the past year, the stock has hit a 52-week low of $68.46 and 52-week high of $88.58. Reliance Steel and Aluminum stock has been showing support around $75.68 and resistance in the $78.30 range. Technical indicators for the stock are bearish and S&P gives RS 4 STARS (out of 5) buy ranking.

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