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Fastenal Crosses Below its 10-day MA (FAST)

By David Diaz

Today, shares of Fastenal (NASDAQ:FAST) have crossed bearishly below their 10-day moving average of $43.63 on a volume of 1.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Fastenal share prices have been bracketed by a low of $34.45 and a high of $52.74 and are now at $42.72, 24% 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 its subscribers protect gains by selling shares of Fastenal on April 12th, 2017 by issuing a Downtrend alert when the shares were trading at $47.20. Since that call, shares of Fastenal have fallen 5.4%. 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