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Fastenal Crosses Above its 10-day MA (FAST)

By Nick Russo

Today, shares of Fastenal (NASDAQ:FAST) have crossed bullishly above their 10-day moving average of $40.42 on a volume of 238K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Fastenal has traded in a range of $34.45 to $49.99 and is now at $40.62, 18% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Fastenal on May 19th, 2016 by issuing a Downtrend alert when the shares were trading at $44.85. Since that call, shares of Fastenal have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Fastenal

Ticker(s): FAST