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Archive
- 4/26/2024 -
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Fastenal Co. (FAST) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week after 4 consecutive negative weeks for the Fastenal Co. (FAST). During the week, the FAST climbed 0.60 points, or 0.89%, and closed at 68.17 on Friday, April 26, 2024. Weekly volume was -11% below average.
FAST is a member of Industrials Sector. Industrials is the second 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 price is now at the 30.78% retracement level.
 Medium-term trend: [See FAST medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 79.04 and reached 66.79 on April 24, 2024. FAST lost 12.25 points, or 15.50%, in 4 weeks. The price is now at the 11.27% retracement level.
 Weekly Technical Indicators: [See FAST weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. 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 24, 2024 at 66.79 and reached 68.60 on April 26, 2024. FAST gained -1.81 points, or -2.71%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See FAST daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 25, 2024.
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 distance between the Bollinger Bands is 181.01% higher then one year average. It indicates the period of high 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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