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In trading on Monday, shares of Fastenal Co. (NASDAQ:FAST) entered into overbought territory, changing hands as high as $42.65 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.
In the case of Fastenal Co., the RSI reading has hit 71.0 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.3.
Investors could look at FAST's 71.0 reading as a sign that the recent heavy buying is in the process of exhausting itself, which could bring a pullback in the stock. The chart below shows the one year performance of FAST shares:
Looking at the chart above, FAST's low point in its 52 week range is $28.60 per share, with $42.65 as the 52 week high point — that compares with a last trade of $42.54.
Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on FAST is its dividend history.
In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
|FAST Dividend History|
|* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.|
According to the ETF Finder at ETF Channel, FAST makes up 3.51% of the First Trust Materials AlphaDEX Fund ETF (AMEX:FXZ) which is trading higher by about 1.9% on the day Monday.
See what other ETFs contain FAST »
See what other stocks are held by FXZ »
FAST operates in the Home Improvement Stores sector, among companies like Lowe's Companies Inc (NYSE:LOW) which is up about 0.7% today, and Home Depot Inc (NYSE:HD) trading higher by about 1%. Below is a three month price history chart comparing the stock performance of FAST, versus LOW and HD.
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