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)