FAST Forecast and Technical Stock Analysis
Hold candidate since 2019-09-10 Gain 2.59% PDF
Fastenal Company gained 0.03% in the last trading day ( Friday, 13th Sep 2019 ), rising from $33.63 to $33.64 , and has now gained 9 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 1.52% from a day low at $33.58 to a day high of $34.09. The price has risen in 9 of the last 10 days and is up by 10.15% over the past 2 weeks. Volume fell in the last day by -0.25 million shares and in total, 3.62 million shares bought and sold for approximately $121.87 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the FAST stock price was $34.09 and low was $29.01.
- 90 day high was $34.09 and low was $28.38.
- 52 week high for Fastenal Company - $71.88 and low - $28.38.
Fastenal Company has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $32.02, a level that may pose a second chance to hit a runner. According to fan-theory $36.07 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Fastenal Company holds buy signals from both short- and long-term moving averages. In addition, 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 $32.61 and $30.56. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday September 03, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 84 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $30.36 and $29.96.
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 $30.36. If this is broken, then the next support from accumulated volume will be at $29.96 and $29.74.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.51 between high and low, or 1.52%. For the last week, the stock has had a daily average volatility of 2.52%.
The stock is extremely overbought on RSI14 (84). Normally this will pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Fastenal Company has been rising for 9 days in a row, the risk for the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $32.53 (-3.31%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)
2.52 %Average volatility
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|FAST $33.64 ($0.01 0.03%)|
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