FASTENAL COMPANY - Daily - Technical analysis published on 04/22/2024 (GMT)
- 178
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 70.65 USD
My targets
65.08 USD (-3.60%)
60.96 USD (-9.70%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on FASTENAL COMPANY as long as the price remains well below 70.65 USD. The sellers' bearish objective is set at 65.08 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 60.96 USD. In case of crossing, the next objective would be the support located at 57.59 USD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.4
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FASTENAL COMPANY rating is 67.51 USD. The price registered a decrease of -0.09% on the session and was traded between 67.20 USD and 67.95 USD over the period. The price is currently at +0.46% from its lowest and -0.65% from its highest.67.20
67.95
67.51
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 bearish. 67.86% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 57.59 | 60.96 | 65.08 | 67.51 | 68.01 | 70.65 | 75.15 |
| Change (%) | -14.69% | -9.70% | -3.60% | - | +0.74% | +4.65% | +11.32% |
| Change | -9.92 | -6.55 | -2.43 | - | +0.50 | +3.14 | +7.64 |
| Level | Major | Major | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.40 | 66.84 | 67.21 | 67.65 | 68.02 | 68.46 | 68.83 |
| Camarilla | 67.35 | 67.42 | 67.50 | 67.57 | 67.64 | 67.72 | 67.79 |
| Woodie | 66.36 | 66.82 | 67.17 | 67.63 | 67.98 | 68.44 | 68.79 |
| Fibonacci | 66.84 | 67.15 | 67.34 | 67.65 | 67.96 | 68.15 | 68.46 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.90 | 64.60 | 66.08 | 68.78 | 70.26 | 72.96 | 74.44 |
| Camarilla | 66.42 | 66.80 | 67.19 | 67.57 | 67.95 | 68.34 | 68.72 |
| Woodie | 61.30 | 64.30 | 65.48 | 68.48 | 69.66 | 72.66 | 73.84 |
| Fibonacci | 64.60 | 66.19 | 67.18 | 68.78 | 70.37 | 71.36 | 72.96 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.21 | 69.15 | 73.15 | 76.09 | 80.09 | 83.03 | 87.03 |
| Camarilla | 75.23 | 75.87 | 76.50 | 77.14 | 77.78 | 78.41 | 79.05 |
| Woodie | 66.73 | 69.42 | 73.67 | 76.36 | 80.61 | 83.30 | 87.55 |
| Fibonacci | 69.15 | 71.80 | 73.44 | 76.09 | 78.74 | 80.38 | 83.03 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 25.76 | |
| MACD (12,26,9): | -1.9000 | |
| Directional Movement: | -23.08 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 69.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 71.55 | |
| Elder Ray (13): | -3.01 | |
| Super Trend (3,10): | 72.05 | |
| Zig ZAG (10): | 67.49 | |
| VORTEX (21): | 0.6700 | |
| Stochastique (14,3,5): | 2.40 | |
| TEMA (21): | 67.42 | |
| Williams %R (14): | -97.08 | |
| Chande Momentum Oscillator (20): | -7.68 | |
| Repulse (5,40,3): | -3.2700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1800 | |
| Courbe Coppock: | 20.92 |
| MA7: | 68.52 | |
| MA20: | 73.27 | |
| MA50: | 73.42 | |
| MA100: | 69.06 | |
| MAexp7: | 68.87 | |
| MAexp20: | 71.75 | |
| MAexp50: | 72.05 | |
| MAexp100: | 69.27 | |
| Price / MA7: | -1.47% | |
| Price / MA20: | -7.86% | |
| Price / MA50: | -8.05% | |
| Price / MA100: | -2.24% | |
| Price / MAexp7: | -1.97% | |
| Price / MAexp20: | -5.91% | |
| Price / MAexp50: | -6.30% | |
| Price / MAexp100: | -2.54% |
Quotes :
-
15 min delayed data
-
NASDAQ Stocks
News
Don't forget to follow the news on FASTENAL COMPANY. At the time of publication of this analysis, the latest news was 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
Online
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…
Add a comment
Comments
0 comments on the analysis FASTENAL COMPANY - Daily