The Relative Strength (RS) Rating for Fastenal entered a new percentile Wednesday, with an increase from 80 to 83.
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This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
Fastenal is now considered extended and out of buy range after clearing a 42.44 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 16%, compared to 0% in the prior report. Revenue increased from 3% to 9%.
Fastenal earns the No. 1 rank among its peers in the Machinery-Tools & Related industry group. Applied Indl Techs and Lincoln Electric are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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