Hey people, FASTENAL is in a bullish configuration, it seems to want to go on its resistance the question is how it will break its call price.
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Retesting to the previous all time high back in 2/20. Looks like it could possibly continue the upward trend tot he all time high. There is some support between 38 and 37.
An ideal entry would be passing 39.00
I am already in the trade, I entered @ 38.89
NASDAQ:FAST
FAST - Re accumulation
Weekly Chart for Follow up
Daily look it will consolidate for short term but it looks that its starting to Fuel up and waiting for Entry point and to Join
Good luck
Buyers made a long legged doji on weekly that was at demand in an uptrend.now buyers coming into market for continuation to upside to next level of supply
Just making this update on my previous cart i link below.
Yesterday it broke the 38,02 support and ended at 38,34 - so here was my "buy pos"
but i cancelled it becouse it didnt go further thwn it did , this was a good call, for this morning the Corona Virus came with more bad newa
and that can have impact on the stock market - just looked at the pre-market and...
Alert set for break above $38.50
Evaluate volume profile before entering any longs to confirm bullish break.
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Looking for my buy signal
Golden cross is made 19 Dec
Up trend since jan 2006
Holding the 50 MA / 200 MA
RSI is 50.50 after the small drop this friday.
High volume on the 18 okt 19 befor earnings.
Fundamental analyse :
Positive 3Q earnings
Went from +0,33 in 2018 to +0,37 in 2019
Link : s23.q4cdn.com
Fastenal is many things to many different customers:...
- FAST has found support on ER gap and previous high
- Likely to consolidate for a few days before we see a move to the upside
- Overall, trend is long and strong and sellers are exiting
- Look for a jump to $38
High Frequency Traders triggered on FAST news, gapping the stock just slightly above the previous yearly high. The stock is in a slight run upward within the previous white candlestick body. The gains look to sustain.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes...
Entry level $36.40 = Price target $40 = Stop loss $35.80
Bullish earnings and a change in market sentiment has sent FAST to an new high, we see $40 as the next target.
Simply a buy and is on the way to all time high.
Yield 2.84%
P/E ratio 23.24
Short interest 6.94%
Company profile
Fastenal Co. engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking,...
FAST moved out of its sideways pattern and gapped, then ran up to a new all-time high. The stock is at risk of profit-taking due to the angle of ascent of the price action and the overextended technical indicator patterns.
