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TMCNet:  Fastenal (FAST) Approaches New Upside Target of $43.08

[November 09, 2012]

Fastenal (FAST) Approaches New Upside Target of $43.08

Nov 09, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Fastenal (NASDAQ:FAST) have bullishly opened above the pivot of $42.23 today and have reached the first resistance level of $42.54. Investors may be interested in a cross of the next upside pivot targets of $43.08 and $43.93.


Fastenal has overhead space with shares priced $42.73, or 8.6% below the average consensus analyst price target of $46.75. The stock should find initial resistance at its 50-day moving average (MA) of $43.75 and further resistance at its 200-day MA of $45.52.

Fastenal share prices have moved between a 52-week high of $55.05 and a 52-week low of $37.61 and are now trading 14% above that low price at $42.73 per share. The 200-day and 50-day moving averages have moved 0.07% lower and 0.05% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Fastenal and will alert subscribers who have FAST in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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