Fastenal Company engages in the wholesale distribution of industrial and construction supplies. The shares rose on the last earnings announcement on January 17th. Further appreciation is likely. The weekly strip reveals a breakout from a rising triangle that projects higher prices over $80 per share. Relative strength confirms the price breakout by moving out of a three-year range. The monthly histogram shows that the stock has entered the strong span of its seasonal period. From January 16th to June 3rd, the stock has risen 75% of the time over the last 36 years. The monthly cycle rises in 2024.
Fastenal
Daily, Weekly, Monthly
Fastenal Monthly Histogram
Blue: Average Percentage Change
Red: Probability of a rise on that day
Green: Expected Return (Product of the first 2)
Fastenal Monthly Cycle
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions. The weekly and the monthly strips reveal price reversals to the upside in both absolute and in relative price. There are higher lows in monthly momentum. These are the signs of a stock that has made a longer-term low. The monthly cycle is in a rising mode, supporting this conclusion. The share price is likely to exceed $60 in February. Defer purchases until after the company reports earnings on the 25th. Short-term cycles suggest a pullback over the near term.
Western Digital
Daily, Weekly, Monthly
Western Digital Monthly Cycle