Fastenal (FAST) is scheduled to report its latest quarterly figures on Tuesday, Oct. 12. Let's see how the charts and indicators line up ahead of the print.
In the daily bar chart of FAST, below, we can see the shares corrected lower in the past four weeks and have so far successfully tested the rising 200-day moving average line. The 50-day moving average line is pointed down but a rally above $54 or so will change the picture.
The On-Balance-Volume (OBV) line did follow prices lower in September but a fresh rise could be underway. The Moving Average Convergence Divergence (MACD) oscillator is crossing to the upside for a cover shorts buy signal.
In the weekly Japanese candlestick chart of FAST, below, we can see the price history of the past three years. The shares have tested the rising 40-week moving average line a number of times and prices have resumed the uptrend each time.
The weekly OBV line is bullish but the MACD oscillator is pointed down.
In this daily Point and Figure chart of FAST, below, we can see a downside price target of $49 but a trade at $53.62 will likely improve the picture.
Bottom-line strategy: I have no special knowledge of what FAST could report for earnings but the stock has survived previous challenges of the 200-day line. Traders who are comfortable could stay long into earnings. Risk to $49.50.
