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Archive
- 5/26/2023 -
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Fastenal Co. (FAST) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Fastenal Co. (FAST). During the week, the FAST climbed 0.16 points, or 0.29%, and closed at 55.16 on Friday, May 26, 2023. Weekly volume was -36% below average.
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 March 23, 2020 at 26.72 and reached 64.75 on December 30, 2021. FAST gained -38.03 points, or -142.33%, in 92 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 44.08 and resistance is at 80.76. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See FAST medium-term trend chart]
A medium-term downtrend had started on December 30, 2021 at 64.75 and reached 43.73 on October 13, 2022. FAST lost 21.02 points, or 32.46%, in 41 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (38.15) is broken. A broken support is considered to be a long-term bullish signal. 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 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. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 November 4, 2022. Use the following link to access a MACD help.
 Short-term trend: [See FAST short-term trend chart]
A short-term uptrend had started on April 13, 2023 at 50.30 and reached 55.62 on May 19, 2023. FAST gained -5.32 points, or -10.58%, in 36 days. The chart has formed a Rising Wedge chart pattern.
 Daily Technical Indicators: [See FAST daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands (3.26%) is close to one year low (4.24%). It is 69.44% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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