Chart of the Day – Fastenal Co. (FAST)

A confirmation of the ascending triangle pattern would signal a breakout

   

Chart of the Day – Fastenal Co. (FAST)

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/.

©2014 InvestorPlace Media, LLC

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