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Shares of FAST Now Overbought

By Dividend Channel Staff, Monday, December 5, 11:32 AM ET
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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:

Fastenal Co. 1 Year Performance Chart

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
Date Div*
10/24/11 0.140
07/21/11 0.130
04/13/11 0.130
02/11/11 0.250
08/18/10 0.210
02/10/10 0.200
08/13/09 0.185
02/11/09 0.175
08/14/08 0.135
02/21/08 0.125
08/16/07 0.115
02/22/07 0.105
08/17/06 0.100
02/15/06 0.100
08/18/05 0.077
02/16/05 0.077
08/19/04 0.062
02/19/04 0.037
09/24/03 0.037
02/19/03 0.015
02/20/02 0.013
02/21/01 0.011
02/23/00 0.010
02/24/99 0.001
02/25/98 0.001
02/26/97 0.001
02/28/96 0.001
* 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.

FAST,LOW,HD Relative Performance Chart


The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.

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