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Archive
- 4/5/2024 -
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Fastenal Co. (FAST) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Fastenal Co. (FAST). During the week, the FAST gave back -0.51 points, or -0.66%, and closed at 76.63 on Friday, April 5, 2024. FAST was trading at average weekly trading volume.
FAST is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See FAST long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 43.73 and reached 79.04 on March 21, 2024. FAST gained -35.31 points, or -80.75%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (58.97) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See FAST medium-term trend chart]
A medium-term uptrend had started on September 21, 2023 at 53.83 and reached 79.04 on March 21, 2024. FAST gained -25.21 points, or -46.83%, in 26 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 67.33 and resistance is at 80.91. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FAST weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 27, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See FAST short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 79.04 and reached 75.07 on April 4, 2024. FAST lost 3.97 points, or 5.02%, in 14 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See FAST daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 25, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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