FASTENAL COMPANY - Daily - Technical analysis published on 01/09/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 61.31 USD
My targets
65.45 USD (+4.97%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on FASTENAL COMPANY. As long as you are above the support located at 61.31 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 65.45 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. If the support 61.31 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FASTENAL COMPANY price is 62.35 USD. The price is lower by -0.19% since the last closing with the lowest point at 61.33 USD and the highest point at 62.35 USD. The deviation from the price is +1.66% for the low point and 0% for the high point.61.33
62.35
62.35
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by FASTENAL COMPANY:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of FASTENAL COMPANY indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is low given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 57.81 | 59.35 | 61.31 | 62.35 | 65.45 |
Change (%) | -7.28% | -4.81% | -1.67% | - | +4.97% |
Change | -4.54 | -3.00 | -1.04 | - | +3.10 |
Level | Major | Major | Major | - | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 61.58 | 61.79 | 62.13 | 62.34 | 62.68 | 62.89 | 63.23 |
Camarilla | 62.32 | 62.37 | 62.42 | 62.47 | 62.52 | 62.57 | 62.62 |
Woodie | 61.65 | 61.82 | 62.20 | 62.37 | 62.75 | 62.92 | 63.30 |
Fibonacci | 61.79 | 62.00 | 62.13 | 62.34 | 62.55 | 62.68 | 62.89 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 57.79 | 59.72 | 60.85 | 62.78 | 63.91 | 65.84 | 66.97 |
Camarilla | 61.14 | 61.42 | 61.70 | 61.98 | 62.26 | 62.54 | 62.82 |
Woodie | 57.39 | 59.52 | 60.45 | 62.58 | 63.51 | 65.64 | 66.57 |
Fibonacci | 59.72 | 60.89 | 61.61 | 62.78 | 63.95 | 64.67 | 65.84 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 54.65 | 57.03 | 60.90 | 63.28 | 67.15 | 69.53 | 73.40 |
Camarilla | 63.05 | 63.62 | 64.20 | 64.77 | 65.34 | 65.92 | 66.49 |
Woodie | 55.40 | 57.40 | 61.65 | 63.65 | 67.90 | 69.90 | 74.15 |
Fibonacci | 57.03 | 59.42 | 60.89 | 63.28 | 65.67 | 67.14 | 69.53 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 44.66 | |
MACD (12,26,9): | 0.2700 | |
Directional Movement: | -14.13 | |
AROON (14): | -64.29 | |
DEMA (21): | 63.76 | |
Parabolic SAR (0,02-0,02-0,2): | 64.41 | |
Elder Ray (13): | -1.36 | |
Super Trend (3,10): | 64.22 | |
Zig ZAG (10): | 62.20 | |
VORTEX (21): | 0.9200 | |
Stochastique (14,3,5): | 17.03 | |
TEMA (21): | 63.00 | |
Williams %R (14): | -79.68 | |
Chande Momentum Oscillator (20): | -2.45 | |
Repulse (5,40,3): | 1.1500 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.1900 | |
Courbe Coppock: | 3.95 |
MA7: | 62.77 | |
MA20: | 63.95 | |
MA50: | 61.47 | |
MA100: | 58.57 | |
MAexp7: | 62.78 | |
MAexp20: | 63.11 | |
MAexp50: | 61.61 | |
MAexp100: | 59.59 | |
Price / MA7: | -0.67% | |
Price / MA20: | -2.50% | |
Price / MA50: | +1.43% | |
Price / MA100: | +6.45% | |
Price / MAexp7: | -0.68% | |
Price / MAexp20: | -1.20% | |
Price / MAexp50: | +1.20% | |
Price / MAexp100: | +4.63% |
Quotes :
-
15 min delayed data
-
NASDAQ Stocks
News
The latest news and videos published on FASTENAL COMPANY at the time of the analysis were as follows:
- Fastenal Company Reports 2023 First Quarter Earnings
- Fastenal Company Announces Cash Dividend
- Fastenal Company Announces Conference Call to Review 2023 First Quarter Earnings
- Fastenal Names New Executive VP of Human Resources
- Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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