Fastenal Company (FAST)

[ITMS]

Today, leading industrial and construction supplies company, Fastenal Co (NASDAQ:FAST) is declining by 6.50 percent. The sell off in the stock comes after the company reported earnings that clearly disappointed the street. The stock is now piercing the 50-day moving average. It should also be noted that today's decline is also erasing all of the gains made in December. Day-traders should now watch for major intra-day chart support around the $50.00 level. This important area will be a solid retrace level and also a nice whole round number for a good risk/reward day trade when tested.




Nicholas Santiago
InTheMoneyStocks