The Chart of the Day belongs to steel and aluminum company Reliance Steel & Aluminum (RS). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 6/12 the stock gained 16.20%.

(Click on image to enlarge)

RS Price vs Daily Moving Averages

Reliance Steel & Aluminum Co. operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries. It sells its products directly to original equipment manufacturers, which primarily include small machine shops and fabricators. The company was founded in 1939 and is based in Scottsdale, Arizona.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 60.60+ Weighted Alpha
• 57.94% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 13.26% in the last month
• Relative Strength Index 77.73%
• Technical support level at $286.29
• Recently traded at $291.82 with 50 day moving average of $259.43

Fundamental Factors:

• Market Cap $16.90 billion
• P/E 10.26
• Despite Analysts projections of lower Revenue and Earnings the price keeps going up 

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analyst gave 3 strong buy, 1 buy, and 3 hold opinions on the stock
• Analysts price targets are $271to $300
• Value Line ranks the stock an average 3 
• CFRAs MarketScope rates it a 3 star hold
• 8,750 investors monitor the stock on Seeking Alpha

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