Fastenal Co. (FAST) has rallied smartly from its March low and is now above the popular moving averages. Let's explore the charts of this industrial supply and distribution company to see how they look after the release of its first-quarter numbers.
In the daily bar chart of FAST, below, we can see the brief decline below the August low and the fast recovery. Trading volume has been slow in recent weeks and the On-Balance-Volume (OBV) line is flat.
The trend-following Moving Average Convergence Divergence (MACD) oscillator turned up for a cover shorts buy signal last month and is now approaching the zero line and a possible outright buy signal.