Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Reliance Inc shares valued at $2,088,472 were purchased by Smith William A II on Nov 06 ’24. At $321.30 per share, Smith William A II acquired 6,500 shares.
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Also, Ajemyan Arthur purchased 6,332 shares, netting a total of over 2,014,715 in proceeds.
Before that, KAMINSKI MARK V had sold 5,000 shares from its account. In a trade valued at $1,490,050, the Director traded Reliance Inc shares for $298.01 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.0.
As published in a research note from Wolfe Research on July 26, 2024, Reliance Inc [RS] has been rated down from a Peer perform to an Underperform and the price target has been revised to $262. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. As of April 28, 2023, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for RS.
Analyzing RS Stock Performance
During the last five days, there has been a surge of approximately 12.68%. Over the course of the year, Reliance Inc shares have jumped approximately 16.68%. Shares of the company reached a 52-week high of $342.20 on 04/08/24 and a 52-week low of $264.99 on 09/11/24. A 50-day SMA is recorded $285.68, while a 200-day SMA reached $297.59. Nevertheless, trading volume fell to 0.69 million shares from 0.29 million shares the previous day.
Support And Resistance Levels for Reliance Inc (RS)
According to the 24-hour chart, there is a support level at 318.50, which, if violated, would cause prices to drop to 310.67. In the upper region, resistance lies at 330.51. The next price resistance is at 334.69. RSI (Relative Strength Index) is 71.20 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.33, which suggests the price will increase in the coming days. Percent R is at 1.22%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
