Fastenal continues to improve on the chart with two bullish patterns and signs of accumulation. First, a big island reversal formed at the stock gapped below 43.5 in early October and gapped back above this level in late October. Second, the stock broke pennant resistance with a move above 45 last week. Third, the Accumulation Distribution Line (ACDL) bottomed in mid October and moved above its September high. FAST is looking bullish as long as support at 44 holds.
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