Fastenal Company Stock Forecast
Red day on Monday for Fastenal Company stock after losing 0.178%
(Updated on Apr 22, 2024)
The Fastenal Company stock price fell by -0.178% on the last day (Monday, 22nd Apr 2024) from $67.57 to $67.45. During the last trading day the stock fluctuated 1.12% from a day low at $67.20 to a day high of $67.95. The price has fallen in 7 of the last 10 days and is down by -11.12% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -916 thousand shares and in total, 3 million shares were bought and sold for approximately $190.42 million.
Given the current short-term trend, the stock is expected to rise 6.06% during the next 3 months and, with a 90% probability hold a price between $71.54 and $84.82 at the end of this 3-month period.
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FAST Signals & Forecast
There are few to no technical positive signals at the moment. The Fastenal Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $68.52 and $74.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -13.99%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fastenal Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.750 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 1.68%.
Fastenal Company is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FAST) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Fastenal Company to open at $67.53, and during the day (based on 14 day Average True Range), to move between $65.99 and $68.91, which gives a possible trading interval of +/-$1.46 (+/-2.16%) up or down from last closing price. If Fastenal Company takes out the full calculated possible swing range there will be an estimated 4.31% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $68.23, some $0.780 (1.16%) from the current price of $67.45, our system finds the risk reward not very attractive.
Is Fastenal Company stock A Buy?
The Fastenal Company stock holds several negative signals and despite the positive trend, we believe Fastenal Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.184 Sell Candidate Unchanged
Predicted Opening Price for Fastenal Company of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$67.53 ( 0.124%) | $67.45 |
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 | 68.28 | 1.24 % | |
R2 | 68.00 | 0.81 % | ||
R1 | 67.82 | 0.548 % | ||
Current price: | 67.45 | |||
Support | S1 | 67.25 | -0.301 % | |
S2 | 67.07 | -0.564 % | ||
S3 | 66.78 | -0.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 75.03 | 11.24 % | |
R2 | 69.88 | 3.60 % | ||
R1 | 68.23 | 1.16 % | ||
Current price | 67.45 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAST Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2024 | Apr 24, 2024 | May 23, 2024 | $0.390 | 0.578% |
2 | Jan 17, 2024 | Jan 31, 2024 | Feb 29, 2024 | $0.390 | 0.534% |
3 | Dec 05, 2023 | Dec 05, 2023 | Dec 20, 2023 | $0.380 | 0.588% |
4 | Oct 11, 2023 | Oct 25, 2023 | Nov 24, 2023 | $0.350 | 0.574% |
5 | Jul 12, 2023 | Jul 26, 2023 | Aug 24, 2023 | $0.350 | 0.620% |
FAQ
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