This morning on Barchart one of the growth stocks having projected double digit increases of sales and earnings that is having current price momentum is Fastenal (FAST) with 14 new highs and a price increase of 16.37% in just the last month. The company is benefiting from increases in construction activity in both the new homes and remodeling of existing homes.
Barchart technical indicators:
- 96% Barchart technical buy signal
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 16.37% in just the last month
- Relative strength Index 74.77% and climbing
- Trades around 36.48 with a 50 day moving average of 33.11
Summary: There is some new construction and a lot of the houses that were foreclosed need to be renovated before they will be able to be resold. Fastenal (FAST) will benefit. Long term investors should see a total return over the next 5 years in the 7 - 10% range. Always keep your portfolio full of stocks with double digit sales and earnings forecasts that are having current price momentum.
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