How To Trade Fastenal $FAST

June 02, 2023, 20:45 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FAST

• Buy FAST slightly over 52.31 target 55.94 stop loss @ 52.16 Details

The technical summary data tells us to buy FAST near 52.31 with an upside target of 55.94. This data also tells us to set a stop loss @ 52.16 to protect against excessive loss in case the stock begins to move against the trade. 52.31 is the first level of support below 55.37 , and by rule, any test of support is a buy signal. In this case, support 52.31 is being tested, a buy signal would exist.

• Short FAST slightly under 55.94, target 52.31, stop loss @ 56.1 Details

The technical summary data is suggesting a short of FAST as it gets near 55.94 with a downside target of 52.31. We should have a stop loss in place at 56.1though. 55.94 is the first level of resistance above 55.37, and by rule, any test of resistance is a short signal. In this case, if resistance 55.94 is being tested, a short signal would exist.

Swing Trading Plans for FAST

• Buy FAST slightly over 55.94, target n/a, Stop Loss @ 55.78 Details

If 55.94 begins to break higher, the technical summary data tells us to buy FAST just slightly over 55.94, with an upside target of n/a. The data also tells us to set a stop loss @ 55.78 in case the stock turns against the trade. 55.94 is the first level of resistance above 55.37, and by rule, any break above resistance is a buy signal. In this case, 55.94, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FAST slightly near 55.94, target 55.31, Stop Loss @ 56.1. Details

The technical summary data is suggesting a short of FAST if it tests 55.94 with a downside target of 55.31. We should have a stop loss in place at 56.1 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 55.94, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FAST

• Buy FAST slightly over 55.94, target n/a, Stop Loss @ 55.81 Details

If 55.94 begins to break higher, the technical summary data tells us to buy FAST just slightly over 55.94, with an upside target of n/a. The data also tells us to set a stop loss @ 55.81 in case the stock turns against the trade. 55.94 is the first level of resistance above 55.37, and by rule, any break above resistance is a buy signal. In this case, 55.94, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FAST slightly near 55.94, target 55.34, Stop Loss @ 56.07. Details

The technical summary data is suggesting a short of FAST if it tests 55.94 with a downside target of 55.34. We should have a stop loss in place at 56.07 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 55.94, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Real Time Updates are available on our Fastenal (FAST) Page here: FAST.

FAST Ratings for June 02:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Neutral
P1	0	0	48.58
P2	54.03	53.86	52.31
P3	55.34	55.31	55.94

Support and Resistance Plot Chart for FAST

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This report provides trading strategies for Fastenal (NASDAQ: FAST) while incorporating risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FAST change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FAST is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FAST too.  All of these are offered below the Summary Table.