Fastenal: Expected To Hold Its Price Above Its Support Level

Today’s instrument is the Fastenal‘s stock traded on the Nasdaq exchange under the ticker FAST. 

When we look at the FAST‘s chart, we can see it’s been trading in a channel for the past weeks between its support level of around $57 and its resistance level of around $60.

This week it is announcing its quarterly earnings and if the market’s anticipation is positive then we could expect today to hold its price above its support level at around $56.80-$57 and to upwardly reacts, otherwise, it should fall towards its next support level at around $55.

(Click on image to enlarge)