Green day on Monday for Fastenal Company stock after gaining 1.38%
(Updated on Nov 29, 2021)
Buy or Hold candidate since 2021-10-29 Gain 6.76% PDF
The Fastenal Company stock price gained 1.38% on the last trading day (Monday, 29th Nov 2021), rising from $60.11 to $60.94. During the day the stock fluctuated 1.73% from a day low at $60.16 to a day high of $61.20. The price has fallen in 6 of the last 10 days, but is still up by 1.16% 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, 451 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $140.29 million.
The stock lies in the middle of a wide and 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 14.82% during the next 3 months and, with a 90% probability hold a price between $64.62 and $71.62 at the end of this 3-month period.
Signals & Forecast
The Fastenal Company stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $60.86 and $57.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, November 16, 2021, and so far it has fallen -0.67%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $53.83 and $52.96. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Fastenal Company finds support just below today's level at $53.83. If this is broken, then the next support from accumulated volume will be at $52.96 and $52.72.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.04 between high and low, or 1.73%. For the last week, the stock has had a daily average volatility of 1.35%.
Our recommended stop-loss: $58.72 (-3.64%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)
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: 4.132
Predicted Opening Price for Fastenal Company of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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On Oct 08, 2021 "Wells Fargo & Company" gave "$50.00 - $45.00" rating for FAST. The price target was set to $52.72+1.4%.
FAST Insider Trading
|Nov 10, 2021||Sell||99 868||Florness Daniel L||Employee Stock Option (Right to Buy)|
|Nov 10, 2021||Sell||66 740||Florness Daniel L||Common Stock|
|Nov 10, 2021||Buy||99 868||Florness Daniel L||Common Stock|
|Nov 05, 2021||Sell||6 428||Soderberg John Lewis||Employee Stock Option (Right to Buy)|
|Nov 05, 2021||Sell||458||Soderberg John Lewis||Common Stock|
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