Fastenal $FAST Technical Update – Stock Traders Daily

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Fastenal $FAST Technical Update

The Fastenal (NASDAQ: FAST) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for FAST, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.

Review the Trading Plans:

Technical Summary

Term → Near Mid Long
Bias Neutral Neutral Neutral
P1 57.84 55.39 48.53
P2 58.69 60.26 54.90
P3 59.42 65.10 61.16

Long Term Trading Plans for FAST

September 4, 2018, 10:15 pm ET

The Technical Summary and Trading Plans for FAST help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this FAST Report.

FAST – (Long) Support Plan

Buy over 54.90 target 61.16 stop loss @ 54.64.
The technical summary data tells us to buy FAST near 54.90 with an upside target of 61.16. This data also tells us to set a stop loss @ 54.64 to protect against excessive loss in case the stock begins to move against the trade. 54.90 is the first level of support below 59.04 , and by rule, any test of support is a buy signal. In this case, support 54.90 is being tested, a buy signal would exist.

FAST – (Short) Resistance Plan

Short under 61.16 target 54.90 stop loss @ 61.42
The technical summary data is suggesting a short of FAST as it gets near 61.16 with a downside target of 54.90. We should have a stop loss in place at 61.42 though. 61.16 is the first level of resistance above 59.04, and by rule, any test of resistance is a short signal. In this case, if resistance 61.16 is being tested, a short signal would exist.

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