| 2016-10-10 13:42:26|
FAST 13:42 10/10 10/10/16
Fastenal technical comments ahead of results
The shares have been in a downtrend since hitting a peak of price in March of this year. If the news is a negative disappointment, that downtrend is likely to extend. The first support level of note would be at the $40 area. A breakdown below $40 would signal a resumption of the downtrend with greater momentum. Support below $40 would be at $39.03 and $37.67. If the news is stronger than expected, a move above $44.50 would break the downtrend. Next resistance levels to watch in that event as potential upside objectives would be at $45.83 and $46.80.