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Weekly MACD Divergence:Bearish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 3/15/2024 -
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Fastenal Co. (FAST) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARTrend support at 74.96
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It was the negative week for the Fastenal Co. (FAST). During the week, the FAST gave back -0.60 points, or -0.79%, and closed at 75.03 on Friday, March 15, 2024. Weekly volume was 31% above 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 76.59 on March 8, 2024. FAST gained -32.86 points, or -75.14%, in 73 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (58.39) 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 76.59 on March 8, 2024. FAST gained -22.76 points, or -42.28%, in 24 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 65.94 and resistance is at 77.38. 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 strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 January 9, 2024 at 61.33 and reached 76.59 on March 8, 2024. FAST gained -15.26 points, or -24.88%, in 59 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (74.96) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.84
Williams' Percentage Range (W%R) 22.10
Lane's Stochastic (%D-Slow) 57.32
Greed/Fear Indicator (GFI) 65.69
Moving Average Converg./Diverg. (MACD) 1.66
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.76
Williams' Percentage Range (W%R) 7.60
Strong Overbought
Lane's Stochastic (%D-Slow) 92.18
Strong Overbought
Greed/Fear Indicator (GFI) 83.02
Overbought
Moving Average Converg./Diverg. (MACD) 3.35
Trading Signals
Description Value Chart
Weekly Trendline Resistance 78.42
Monthly Trendline Resistance 77.38
Upper Bollinger Band 76.98
Parabolic System 76.44
Weekly Stochastic Crossing 75.97
Daily Stochastic Crossing 75.41
Price 75.03
Weekly Trendline Support 74.96
20 Day Moving Average 73.52
Lower Bollinger Band 69.92
50 Day Moving Average 69.86
Quarterly Trendline Resistance 66.55
Monthly Trendline Support 65.94
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Building Products 104
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 76.59
High Date 03/08/2024
Low 73.69
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 78.42
Support 74.96
Low 61.33
Low Date 01/09/2024
High 76.59
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 77.38
Support 65.94
Low 53.83
Low Date 09/21/2023
High 76.59
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 66.55
Support 58.39
Low 43.73
Low Date 10/13/2022
High 76.59
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.72
Low Date 03/23/2020
High 76.59
High Date 03/08/2024
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.