May 10, 2013 (Moving average crossovers via COMTEX) -- Today, shares of Fastenal (NASDAQ:FAST) have advanced above their 10-day MA of $48.74 on a volume of 422K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.Fastenal Company sell industrial and construction supplies in a wholesale and retail fashion. The Company markets its products and services throughout the United States, Canada, Mexico, Puerto Rico, Singapore, China, and The Netherlands.
In the past 52 weeks, Fastenal share prices have been bracketed by a low of $37.61 and a high of $53.38 and are now at $49.43, 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.2%.
Potential upside of 0.1% exists for Fastenal, based on a current level of $49.43 and analysts' average consensus price target of $49.50. The stock should hit resistance at its 50-day moving average (MA) of $49.83, as well as support at its 200-day MA of $46.13.
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