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After Yesterday's Rally of 1.18% Shares Could Potentially Pullback

By James Quinn

Fastenal Co (NASDAQ:FAST) traded in a range yesterday that spanned from a low of $52.40 to a high of $53.39. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $53.03 on volume of 631,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Fastenal Co share prices have been bracketed by a low of $46.72 and a high of $61.14 and are now at $53.24, 14% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 0.83% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Fastenal Co on October 5th, 2018 by issuing a Downtrend alert when the shares were trading at $56.57. Since that call, shares of Fastenal Co have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders fastenal co

Ticker(s): FAST