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Fastenal Crosses Below its 10-day MA (FAST)

By Shiri Gupta

Fastenal (NASDAQ:FAST) shares have crossed bearishly below their 10-day moving average of $51.18 on a volume of 250K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Fastenal have traded between a low of $34.45 and a high of $52.64 and are now at $50.95, which is 48% above that low price. 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 subscribers consider buying shares of Fastenal on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.88. Since that recommendation, shares of Fastenal have risen 22.7%. We continue to monitor FAST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Fastenal

Ticker(s): FAST