Fastenal is expected to report earnings of 37 cents a share pre-market on Thursday. The stock is rated a Buy (4-Engine), according to ValuEngine, with a one-year price target at $44.04. FAST has a 12-month return of 12.4% with a five-year average annual return of 11.8%. The P/E ratio is elevated at 26 times 12-month forward earnings estimates. The daily chart shows that FAST has rising momentum and is well above its 21-day simple moving average at $39.59, but below its 50-day and 200-day simple moving averages at $42.06 and $43.91. My weekly value level is $38.53 with a semiannual pivot at $41.28 and quarterly risky level at $44.37.
Fastenal sells industrial and construction supplies in eleven product lines. Its traditional product line consists of threaded fasteners and other miscellaneous supplies. Its other product lines include tools, blades, material-handling and storage products, and other supplies.
I advocate the use of "good til canceled" limit orders to add to long positions or become less short on share-price weakness to value levels. Traders should enter GTC limit orders to reduce long positions or to add to a short position on strength to risky levels.
At the time of publication, the author had no positions or conflicts in any of the stocks mentioned
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