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AI RS Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: Strong bullish momentum could arise from increased demand for steel products, coupled with a favorable market environment, potentially pushing RS price upwards due to positive market sentiment.

Bearish Case: Economic uncertainties or rising interest rates could negatively impact demand for steel, resulting in price declines for RS as market participants react to tightening financial conditions.

Potential Outcomes:

1) RS price increase (40%);

2) Stabilization around current levels (30%);

3) Price drop due to economic downturn (20%);

4) Significant volatility causing sharp swings (10%).

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September 10, 2024

Reliance Steel & Aluminum Forecast

RS Reliance Steel & Aluminum

Price Forecast
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Correlated Assets

Assets that tend to move strongly with RS

CG Carlyle (0.93)

PSX Phillips 66 (0.93)

STLD Steel Dynamics (0.91)

PCAR Paccar (0.9)

AME Ametek (0.89)

Uncorrelated Assets

Assets with little price relationship to RS

PCG PG&E (-0.0)

PCRX Pacira BioSciences (0.0)

SAVA Cassava Sciences (0.0)

SGRY Surgery (-0.0)

CCOI Cogent Communications (-0.0)

Anticorrelated Assets

Assets that tend to move strongly against RS

APD Air Products & Chemicals (-0.74)

AMC AMC Entertainment (-0.76)

CHTR Charter Communications (-0.77)

EXTR Extreme Networks (-0.82)

VNET VNET (-0.82)

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