Technical outlook – From the technical assessment, the Moving Average Convergence Divergence (MACD) is slowly moulding to a bullish bias. Therefore, we view Reliance Worldwide Corporation Limited (RWC) has further ground to cover (in the short-term), with the initial target seen to $4.15. Reassess from there.
Company Overview – Reliance Worldwide Corporation Limited (RWC) operates in the design, manufacture and supply of high quality, reliable and premium branded water flow and control products and solutions for the plumbing industry. Its products are used in residential and commercial applications, with a principal focus on the less cyclical residential repair and renovation end-market.