The "Chart of the Day" is Fastenal Company (FAST), which showed up on Friday's Barchart "All Time High" list. Fastenal on Friday posted a new all-time high of $39.14 and closed up 0.73%, building on last Thursday's upside breakout. TrendSpotter has been Long since Oct 21 at 35.51. In recent news on the stock, Fastenal on Oct 13 reported in-line earnings of 33 cents. The company said it opened 94 new stores in the first 9 months of FY-2011 versus 90 in the comparable year-earlier period. Barclays on Oct 14 initiated coverage on Fastenal with an Underweight rating and a target of $33. Fastenal Company, with a market cap of $11 billion, sells industrial and construction supplies grouped into eleven product lines including fasteners, tools, metal cutting tool blades and blade resharpening services, fluid transfer components and accessories for hydraulic and pneumatic power, material handling and storage products, janitorial and paper products, electrical supplies, welding supplies, safety supplies, and raw materials.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Barchart links for further information:
Quotes and Charts
Trader's Cheat Sheet™
Chart of the Day Archive
View Past Chart of the Day Reports