OptionsPlay DailyPlay

The bullish DailyPlay we chose for Friday July 29th is Reliance Steel (RS). RS is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 7.80% move higher and it’s 1m and 6m trend turned bullish on 7/6 and recently broke above its $57 resistance level.

Reliance Steel’s 6m trends turned bullish on 7/26 and recently bounced higher off its $75 support level on high volume. With a technical score of 8 (out of 10), RS looks positioned to continue this strong bullish trend higher.

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