FASTENAL COMPANY - 1H - Technical analysis published on 07/31/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
39%
22%
39%
My opinion
Bullish above 69.68 USD
My targets
72.01 USD (+1.68%)
75.07 USD (+6.00%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on FASTENAL COMPANY. As long as you are above the support located at 69.68 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 72.01 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 75.07 USD as an objective. Crossing it would then enable buyers to target 77.53 USD. If the support 69.68 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
4.5
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Additional analysis
Quotes
The FASTENAL COMPANY price is 70.82 USD. The price registered a decrease of -0.10% on the session and was between 70.52 USD and 71.72 USD. This implies that the price is at +0.43% from its lowest and at -1.25% from its highest.70.52
71.72
70.82
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of FASTENAL COMPANY indicates that the overall trend is bullish. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 68.12 | 69.68 | 70.69 | 70.82 | 72.01 | 75.07 | 77.53 |
| Change (%) | -3.81% | -1.61% | -0.18% | - | +1.68% | +6.00% | +9.47% |
| Change | -2.70 | -1.14 | -0.13 | - | +1.19 | +4.25 | +6.71 |
| Level | Intermediate | Major | Intermediate | - | Minor | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.31 | 69.78 | 70.33 | 70.80 | 71.35 | 71.82 | 72.37 |
| Camarilla | 70.61 | 70.70 | 70.80 | 70.89 | 70.98 | 71.08 | 71.17 |
| Woodie | 69.36 | 69.80 | 70.38 | 70.82 | 71.40 | 71.84 | 72.42 |
| Fibonacci | 69.78 | 70.17 | 70.41 | 70.80 | 71.19 | 71.43 | 71.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.99 | 65.40 | 67.89 | 69.30 | 71.79 | 73.20 | 75.69 |
| Camarilla | 69.30 | 69.66 | 70.01 | 70.37 | 70.73 | 71.09 | 71.44 |
| Woodie | 64.52 | 65.67 | 68.42 | 69.57 | 72.32 | 73.47 | 76.22 |
| Fibonacci | 65.40 | 66.89 | 67.81 | 69.30 | 70.79 | 71.71 | 73.20 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.66 | 59.09 | 60.79 | 63.22 | 64.92 | 67.35 | 69.05 |
| Camarilla | 61.35 | 61.73 | 62.11 | 62.49 | 62.87 | 63.25 | 63.63 |
| Woodie | 56.30 | 58.91 | 60.43 | 63.04 | 64.56 | 67.17 | 68.69 |
| Fibonacci | 59.09 | 60.67 | 61.64 | 63.22 | 64.80 | 65.77 | 67.35 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 59.41 | |
| MACD (12,26,9): | 0.5300 | |
| Directional Movement: | 10.36 | |
| AROON (14): | 64.28 | |
| DEMA (21): | 71.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.58 | |
| Elder Ray (13): | 0.25 | |
| Super Trend (3,10): | 70.39 | |
| Zig ZAG (10): | 71.12 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 75.56 | |
| TEMA (21): | 71.59 | |
| Williams %R (14): | -43.24 | |
| Chande Momentum Oscillator (20): | 0.33 | |
| Repulse (5,40,3): | -0.6800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 2.10 |
| MA7: | 69.44 | |
| MA20: | 66.89 | |
| MA50: | 65.25 | |
| MA100: | 68.13 | |
| MAexp7: | 71.25 | |
| MAexp20: | 70.86 | |
| MAexp50: | 69.83 | |
| MAexp100: | 68.49 | |
| Price / MA7: | +1.99% | |
| Price / MA20: | +5.88% | |
| Price / MA50: | +8.54% | |
| Price / MA100: | +3.95% | |
| Price / MAexp7: | -0.60% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | +1.42% | |
| Price / MAexp100: | +3.40% |
Quotes :
-
15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on FASTENAL COMPANY at the time of the analysis were as follows:
- Fastenal Company Reports 2023 First Quarter Earnings
- Fastenal Company Announces Cash Dividend
- Fastenal Company Announces Conference Call to Review 2023 First Quarter Earnings
- Fastenal Names New Executive VP of Human Resources
- Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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