FAST moved out of its sideways pattern and gapped, then ran up to a new all-time high. The stock is at risk of profit-taking due to the angle of ascent of the price action and the overextended technical indicator patterns.
Breaking new highs
Over extended , expecting bigger retracement . Looking to go long if price drops to the origin of the move at around 55 dollars a share.
I can't say I'm favorable on the broad market risk reward at these levels, but there are certainly some bright spots. Buyer stampede in this one after a respectable earnings report. To boot, potentially some infrastructure bill front running.
FAST is approaching our first resistance at 61.40 (horizontal swing high resistance, 100% Fibonacci extension, ascending channel's resistance) where a strong drop might occur below this level pushing price down to our major support at 55.55 (50% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (895,,3) is also approaching resistance where we might...
While we wait for that huge head&shoulder to complete and go short, the right shoulder is giving us another nice signal with the formation of a kangaroo tail. Both the promise of the major pattern completion and the tail gives me enough confidence to open a trade at my standard risk %. This time I'm using channels to calibrate stop loss and take profit. SELL STOP...
Theoretically the share is in phase 3, but when the price break the support, it will be in phase 4. You see the price is below to 30MM and the 30MM is starting to had a negative slope. Don't buy!
FAST, big gap up on the last ER. just touching the trend line, all the ma's pointing down. Earnings on Wed premarket. Looks bearish at the moment, can fill the gap to 50.
The sell volume on the last 2 days is 1.5 times the average, not a good sign before earnings.
Price increased only in the last ER out of last 5 ERs. Generally decline or no change within a day or two.
Boy I hate using metrader on the phone. Well it's not that bad on the S9+. I just hate the autoscreen, same on TV it scales auto every time you open a new chart.
I don't know how high it could get before going down, if it goes down.
I feel bad taking advantage of investors losing money HAHAHAHA just kidding hope it falls hard, while it does I will try finding a...
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM) and maintenance, repair, and operations (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, oil exploration, production and refinement companies, mining companies, federal, state, and local governmental entities, schools and certain retail trades. Its original product offerings are fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name.
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FAST
![FAST: [FAST] Phase 3 -> phase 4](https://s3.tradingview.com/y/yT5fPZaG_mid.png "[FAST] Phase 3 -> phase 4")
