In a welcome move, Fastenal stock saw its Relative Strength Rating rise from 69 to 73 on Thursday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they begin their largest runs. See if Fastenal stock can continue to rebound and hit that benchmark.
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Is Fastenal Stock A Buy?
Fastenal stock is trying to complete a flat base with a 59.43 buy point. See if it can break out in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The industrial supply and tool company reported 4% earnings growth last quarter, while sales growth came in at 6%. The next quarterly results are expected on or around Oct. 12.
Fastenal stock holds the No. 7 rank among its peers in the Machinery-Tools & Related industry group. Enerpac Tool Group and Distribution Solutions are also among the group's highest-rated stocks.
