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Look for Shares of Fastenal Co to Potentially Pullback after Yesterday's 1.40% Rise

By Amy Schwartz

Fastenal Co (NASDAQ:FAST) traded in a range yesterday that spanned from a low of $52.20 to a high of $53.33. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $52.55 on volume of 819,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Fastenal Co share prices have moved between a 52-week high of $58.74 and a 52-week low of $37.70 and are now trading 41% above that low price at $53.10 per share. Over the last five market days, 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 Co on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $54.82. Since that call, shares of Fastenal Co have fallen 4.2%. 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