Technical Analysis Of Fastenal Company

By AAATrade of AAATrade.com
Wednesday, July 12, 2023 6:30 AM EDT

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Today’s instrument is the Fastenal, a company engaged in the wholesale distribution of industrial and construction supplies, and whose stock traded in Nasdaq exchange under the ticker FAST. 

Looking at the FAST‘s chart, we can see that the stock is in an uptrend, and yesterday it reached its 52W high at $59.33, and then it was corrected at the last price of $58.96.

Tomorrow, it is announcing its quarterly earnings, and if the market’s anticipation is positive then we could expect it to reach a new 52W high level, otherwise it should fall towards its support level at around $55.

(Click on image to enlarge)

AAATrade's Intraday Technical Analysis of Fastenal Co - 12/07/2023

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