The Chart of the Day is Fastenal Company (NASDAQ: FAST).
FAST’s chart is showing an ascending continuation triangle pattern, which is a bullish signal that indicates a possible continuation of a stock’s current uptrend.
We are just shy of a confirmation of this pattern, but a move above $56.17 would signal a potential $10-$12 breakout.
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Article printed from InvestorPlace Media, http://investorplace.com/2010/10/chart-of-the-day-fastenal-company-fast/.
©2013 InvestorPlace Media, LLC
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