Scanning the Fastenal Company (NASDAQ:FAST) Charts – What’s Next For the Shares?

Here we’ll take a look at how the stock has been performing recently as well as various other factors that could be considered before making an investment decision in Fastenal Company (NASDAQ:FAST). Over the past twelve months, Fastenal Company (NASDAQ:FAST)’s stock was 37.46%. Over the last week of the month, it was -3.34%, 21.34% over the last quarter, and 1.43% for the past six months.

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Over the past 50 days, Fastenal Company’s stock is -4.92% off of the high and 22.83% removed from the low. Their 52-Week High and Low are as follows: -4.92% (High), 46.07%, (Low).

Consensus Analyst Estimate
The consensus analysts recommendation at this point stands at 3 on this stock. This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell. Further, analysts have a 12 month target price of $34.33 on company shares. This is according to the analysts polled by BSR which have recently published research reports on the firm.

Institutional Moves
Institutional investors have changed the number of transactions of Fastenal Company (NASDAQ:FAST) over the past quarter according to the latest SEC Filings.  Transactions were down 0.26% as firms now own 87.20% of the company stock.

Traders may be keeping a close eye on ATR indicators. The current 14-day ATR for Fastenal Company (NASDAQ:FAST) is currently sitting at 0.88. The ATR measures the volatility of a stock on a day-to-day basis. The average true range is typically based on 14 periods and may be calculated daily, weekly, monthly, or intraday. The ATR is not considered a directional indicator, but it may reflect the strength of a particular move.

Checking in on some other technical levels, the 14-day RSI is currently at 57.82, the 7-day stands at 47.83, and the 3-day is sitting at 12.71. The RSI, or Relative Strength Index, is a commonly used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued.

Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Fastenal Company (NASDAQ:FAST) is noted at 36.67. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

The Williams Percent Range or Williams %R is another technical indicator worth taking a look at. Fastenal Company (NASDAQ:FAST) currently has a 14 day Williams %R of -75. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

Fastenal Company (NASDAQ:FAST) currently has a 14-day Commodity Channel Index (CCI) of -66. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

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