The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 6/7/2024 -
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Fastenal Co. (FAST) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range is oversold
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It was the negative week for the Fastenal Co. (FAST). During the week, the FAST dropped -2.09 points, or -3.17%, and closed at 63.89 on Friday, June 7, 2024. It was the worst weekly loss since April 19, 2024. Weekly volume was -12% below average.

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 42.91% 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 63.25 on June 6, 2024. FAST lost 15.79 points, or 19.98%, in 11 weeks. Price is near the trend low.

Weekly Technical Indicators: [See FAST weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 June 5, 2024 at 65.32 and reached 63.25 on June 6, 2024. FAST lost 2.07 points, or 3.17%, in 1 days. The price is now at the 30.92% retracement level.

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

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) 35.90
Williams' Percentage Range (W%R) 81.60
Oversold
Lane's Stochastic (%D-Slow) 25.54
Greed/Fear Indicator (GFI) 26.61
Moving Average Converg./Diverg. (MACD) -1.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.01
Williams' Percentage Range (W%R) 94.00
Strong Oversold
Lane's Stochastic (%D-Slow) 6.56
Strong Oversold
Greed/Fear Indicator (GFI) 15.74
Oversold
Moving Average Converg./Diverg. (MACD) 2.25
Trading Signals
Description Value Chart
50 Day Moving Average 68.61
Upper Bollinger Band 68.16
Parabolic System 65.82
20 Day Moving Average 65.80
Daily Stochastic Crossing 64.02
Price 63.89
Weekly Stochastic Crossing 63.79
Lower Bollinger Band 63.36
Sector and Industry
Description Name Rank
Sector Industrials 3
Industry Building Products 19
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 65.32
High Date 06/05/2024
Low 63.25
Low Date 06/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 68.95
High Date 05/03/2024
Low 63.25
Low Date 06/06/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.04
High Date 03/21/2024
Low 63.25
Low Date 06/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.73
Low Date 10/13/2022
High 79.04
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.72
Low Date 03/23/2020
High 79.04
High Date 03/21/2024
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.