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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Endnotes:
  1. FAST: http://studio-5.financialcontent.com/investplace/quote?Symbol=FAST
  2. ascending continuation triangle pattern: http://investorplace.com/1064/bullish-chart-patterns/
  3. Click here to sign up now!: http://investorplace.com/order/?sid=DH4200

Source URL: http://investorplace.com/2010/10/chart-of-the-day-fastenal-company-fast/
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