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FAST) saw high trading volume this week after the firm announced its second-quarter earnings numbers on Monday. FAST earned 41 cents for the quarter, more or less in line with consensus estimates. Fastenal also posted store growth for the quarter, increasing its brick-and-mortar locations by 22 stores.
While Fastenal's trading volume ticked higher, its price didn't do a whole lot this past week -- but it's setting up for a move substantive move. FAST has been forming an ascending triangle bottom for the past few weeks, with resistance at $47. Investors should look at a move above the $47 as a signal to jump into shares.
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