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PAYCHEX INC

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PAYX trade ideas

Downtrend Raising WedgeLooking at the downtrend that started back in February from the all time high, we see an upward wedge in the making and could be breaking soon all depending on the market. This pattern on this downtrend could be a continuation upward wedge since an upward wedge tends to break downward, so there is a probability it could continue downward after breaking the upward wedge going down. The upward wedge also hit resistance at 69 and it is currently going down getting close to the trend line. Breaking that trend line could be a good possibility to enter on a short trade after confirmation of a candle stick. Looking at Ichimoku, pattern still under the cloud, and the cloud act as resistance too.
NASDAQ:PAYX
by gsotolongo
$PAYX can fall todayContextual immersion trading strategy idea. Paychex has a strong downside trend. The company provides integrated human capital management solutions. Due to the spread of the COVID-19, the demand for the company's services has fallen. This and other conditions can cause a fall in the share price today. So I opened a short position from $55,53; stop-loss — $58,43 — over today's high. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:PAYXShort
by KozakHlib
Paychex: Steady Growth Stock Attempts Cup & Handle BreakoutPaychex isn't the most exciting stock on the planet. But it's forming a textbook cup and handle pattern, which may indicate a breakout is coming. The payroll processing company surged about 40 percent between the end of 2018 and June 2019. It's consolidated those gains since, basing around $80 last August-September (cup), followed by a higher low around $82 in November (handle). PAYX squeezed into a tighter range since then, finding support above its 200-day and 50-day simple moving averages (SMAs). Next came its big candlestick from the December 18 earnings report. PAYX tried to gap higher on strong results and higher guidance, but sellers quickly swatted it back down to its range. The stock consolidated for a few more weeks before running to a new high pennies below $90. It then pulled back and held the 50-day SMA on January 31. After that, it formed a tight channel between $87.25 and $88.90, which it's now on the verge of breaking.
NASDAQ:PAYXLong
by TradeStation
CAUTION INTO PAYCHEX EARNINGS, DIVERGENCES ON CHART.IT REALLY DOES LOOK LIKE A CORRECTION IS ON THE WAY, STOCK IS RUNNING ON FRESH AIR NOT GAS. AVERAGE ANALYSTS PRICE TARGET $80.29 AVERAGE ANALYSTS RECOMMENDATION HOLD P/E RATIO 29.75 COMPANY PROFILE Paychex, Inc. engages in the provision of human capital management solutions for payroll, human resource, insurance, and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, financa and payments, human resources services, and startup services. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.
NASDAQ:PAYXShort
by RedHotStocks