Fastenal (FAST) has broken below a relative strength index of 70 recently — and bears watching.
A little weakness in today’s earnings report could go a long ways (price swoon) as the conditions are a little more vulnerable than usual to a price correction. As Dan Hess pointed out, other companies (e.g. MSC Industrial) are displaying similar fundamental weakness in their operating results.
As always, this long-term community favorite should have plenty of leash when it comes to portfolio-centered decisions. Treat it as core and hold unless Fastenal (FAST) is your best challenge candidate for your portfolio.
Point of View: Update