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Stock Investors Sell Off Shares of Fastenal, Down 2.3%

Published on Tue, 04/30/2013 - 12:23
By Robert Cotter

Down 2.3% to $48.77, Fastenal (NASDAQ:FAST), is one of today's notable movers. The Dow is trading fractionally higher to 14,820 and the S&P is currently trading fractionally higher to 1,596.

In the past 52 weeks, shares of Fastenal have traded between a low of $37.61 and a high of $53.38 and are now at $48.77, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

Fastenal Company sell industrial and construction supplies in a wholesale and retail fashion. The Company markets its products and services throughout the United States, Canada, Mexico, Puerto Rico, Singapore, China, and The Netherlands.

There is potential upside of 1.5% for shares of Fastenal based on a current price of $48.77 and an average consensus analyst price target of $49.50. Fastenal shares should encounter resistance at the 50-day moving average (MA) of $50.39 and support at its 200-day MA of $45.92.

By Robert Cotter
rcotter@fnno.com

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