Bull Flag Setup in Industrial Parts Name with Recent Call Buyer
Fastenal (FAST) shares of the industrial name are forming a bull flag above all its key moving averages and closing strong on Wednesday near highs with a green reversal candle back above 80. The stock has room to run up to the one-year value area high of 84 and could get some momentum ahead of its upcoming stock split next week on 5/22. FAST still has the large 2100 September $77.50 calls in open interest from a buyer on 4/10 and recent opening sales of 480 March $75 puts for $4.70.