On Friday, Fastenal got an upgrade to its Relative Strength (RS) Rating, from 77 to 81.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating of above 80 as they launch their biggest runs.
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Fastenal is now considered extended and out of buy range after clearing a 72.49 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings grew 0% last quarter, up from -2% in the prior report. Revenue also increased, from 2% to 3%.
Fastenal holds the No. 4 rank among its peers in the Machinery-Tools & Related industry group. WW Grainger is the No. 1-ranked stock within the group.
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