Chart of the Day – Fastenal Co. (FAST)

by John Lansing | October 12, 2010 2:21 pm

The Chart of the Day is Fastenal Company (NASDAQ: FAST[1]).

FAST’s chart is showing an ascending continuation triangle pattern[2], 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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  1. FAST:
  2. ascending continuation triangle pattern:
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