Fastenal Company, together with its subsidiaries, operates as a wholesaler and retailer of industrial and construction supplies in the United States and internationally. It offers fastener product line under two categories, which include threaded fasteners, such as bolts, nuts, screws, studs, and related washers that are used in manufactured products and building projects, as well as in the maintenance and repair of machines and structures; and miscellaneous supplies and hardware comprising various pins and machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the construction market, which consists of general, electrical, plumbing, sheet metal, and road contractors; and manufacturing market, including original equipment manufacturers, and maintenance and repair operations, as well as other users, such as farmers, truckers, railroads, mining companies, federal, state and local governmental entities, schools, and retail trades.
To review Fastenal's stock, please take a look at the 1-year chart of FAST (Fastenal Company) below with my added notations:
After trending lower since April, FAST has settled into a small Rectangle pattern over the last couple of months. A Rectangle pattern forms when a stock gets stuck bouncing between a horizontal support and resistance. For FAST, the Rectangle pattern has formed a $45 resistance (red) and a $42 support (blue). The $45 resistance also extends back into May.
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