Fastenal Company Stock Forecast
Green day on Wednesday for Fastenal Company stock after gaining 0.651%
(Updated on Mar 27, 2024)
The Fastenal Company stock price gained 0.651% on the last trading day (Wednesday, 27th Mar 2024), rising from $76.78 to $77.28. During the last trading day the stock fluctuated 1.16% from a day low at $76.62 to a day high of $77.51. The price has risen in 6 of the last 10 days and is up by 2.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 253 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $188.59 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.69% during the next 3 months and, with a 90% probability hold a price between $93.51 and $98.24 at the end of this 3-month period.
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FAST Signals & Forecast
The Fastenal Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $77.35. On a fall, the stock will find some support from the long-term average at approximately $73.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -1.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fastenal Company stock
Fastenal Company finds support from accumulated volume at $75.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.89 (1.16%) between high and low. For the last week, the stock has had daily average volatility of 1.33%.
Our recommended stop-loss: $73.95 (-4.31%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (FAST) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Fastenal Company to open at $77.14, and during the day (based on 14 day Average True Range), to move between $76.09 and $78.47, which gives a possible trading interval of +/-$1.19 (+/-1.54%) up or down from last closing price. If Fastenal Company takes out the full calculated possible swing range there will be an estimated 3.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $77.66 (0.49%) than the support at $75.03 (2.91%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Fastenal Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fastenal Company stock to perform well in the short-term.
Current score: 4.280 Buy Candidate Unchanged
Predicted Opening Price for Fastenal Company of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$77.14 ( 0.185%) | $77.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.03 | 0.97 % | |
R2 | 77.69 | 0.526 % | ||
R1 | 77.48 | 0.254 % | ||
Current price: | 77.28 | |||
Support | S1 | 76.80 | -0.625 % | |
S2 | 76.59 | -0.90 % | ||
S3 | 76.25 | -1.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.42 | 1.48 % | |
R2 | 78.10 | 1.06 % | ||
R1 | 77.66 | 0.492 % | ||
Current price | 77.28 | |||
Support | S1 | 75.03 | -2.91% | |
S2 | 68.23 | -11.71% | ||
S3 | 67.93 | -12.10% |
FAST Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 17, 2024 | Jan 31, 2024 | Feb 29, 2024 | $0.390 | 0.534% |
2 | Dec 05, 2023 | Dec 05, 2023 | Dec 20, 2023 | $0.380 | 0.588% |
3 | Oct 11, 2023 | Oct 25, 2023 | Nov 24, 2023 | $0.350 | 0.574% |
4 | Jul 12, 2023 | Jul 26, 2023 | Aug 24, 2023 | $0.350 | 0.620% |
5 | Apr 12, 2023 | Apr 26, 2023 | May 25, 2023 | $0.350 | 0.644% |
FAQ
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