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- 2/16/2024 -
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Fastenal Co. (FAST) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergence
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandThe period of low volatility of the stock price
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It was a first positive week for the Fastenal Co. (FAST). During the week, the FAST climbed 0.22 points, or 0.31%, and closed at 70.24 on Friday, February 16, 2024. Weekly volume was -9% 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 October 13, 2022 at 43.73 and reached 70.95 on February 2, 2024. FAST gained -27.22 points, or -62.25%, in 68 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (57.60) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 70.95 on February 2, 2024. FAST gained -17.12 points, or -31.80%, in 19 weeks. Price is near the trend high.

Weekly Technical Indicators: [See FAST weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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 October 27, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its 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 uptrend had started on February 13, 2024 at 68.46 and reached 70.67 on February 16, 2024. FAST gained -2.21 points, or -3.23%, in 3 days. The price is now at the 19.46% retracement level.

Daily Technical Indicators: [See FAST daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since February 6, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 3.64% on Friday. It is 51.09% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.74
Williams' Percentage Range (W%R) 19.30
Overbought
Lane's Stochastic (%D-Slow) 64.78
Greed/Fear Indicator (GFI) 68.39
Moving Average Converg./Diverg. (MACD) 1.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.11
Williams' Percentage Range (W%R) 3.80
Strong Overbought
Lane's Stochastic (%D-Slow) 87.40
Overbought Bearish
Greed/Fear Indicator (GFI) 82.76
Overbought
Moving Average Converg./Diverg. (MACD) 2.56
Trading Signals
Description Value Chart
Price 70.24
Upper Bollinger Band 70.11
Weekly Stochastic Crossing 69.95
Daily Stochastic Crossing 69.87
20 Day Moving Average 69.47
Parabolic System 68.48
Lower Bollinger Band 67.55
50 Day Moving Average 66.20
Quarterly Trendline Resistance 65.76
Quarterly Trendline Support 57.60
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Building Products 102
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 68.46
Low Date 02/13/2024
High 70.67
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.33
Low Date 01/09/2024
High 70.95
High Date 02/02/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.83
Low Date 09/21/2023
High 70.95
High Date 02/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 65.76
Support 57.60
Low 43.73
Low Date 10/13/2022
High 70.95
High Date 02/02/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.72
Low Date 03/23/2020
High 70.95
High Date 02/02/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.