Buy Momentum for PAYXAs prices move higher, it is currently supported by the trendline and 150MA and buying momentum is still in play especially with bullish pinbars as confirmation.
Expecting move moves upside with various levels of resistance. Capture the small moves and take profits off the table when there's signs of reversal.
As usual, only use Stop orders above yesterday's high as entry and SL levels best to be below the lowest for the past 3 days.
PAYX trade ideas
$PAYX - Lotto #'s are 27, 10, 52, 39Was on earnings watch, now just on breakdown watch. Hella steam to the up-side, but compared to the volatility it sees on the downside after being overbought is just, wow. Wana give this one a little time - just because I think the move down could be more significant once touching that 789WMA. OTM puts with some time could easily be a lotto play. Break of 3yr WMA & A1 TP = 271% fib downside @ or around $52.39 before even considering an up-trend. But let's see how earnings play out first.
PAYX - Try to recoveryThe second attempt to buy shares on the completion of consolidation. I see a good potential for growth to $ 70. The price was consolidated in anticipation of the quarterly report, which will be released on 26.03. Before the report, the position will be transferred to the breakeven.
Open 66.63
SL 65.87
TP 69.67
P/E 28.54
Forward P/E 23.72
Good Luck!
What can i do for you? (Investors and Traders)Between NYSE and NASDAQ there are approximately 6390 Listed companies.
I follow 1300 approximately, distributed in 10 industries, with different market cap (Small-cap, Mid-cap, Large-cap)
The majority of Investors do not spend their time looking hundreds of stock charts, because they are busy people and they prefer a summary of ideas,
some have preference for Energy Companies only, others prefer Public Utilities Companies, some like Technology Companies and others Consumer Services Companies,
Apart from that add the different Market cap (Small, Mid, Large) that offer the whole market
and here does not end everything, things like Beta, PE Ratio, Avg-Volume, Dividend Yield, etc. are those that most influence the decisions of some investors
there are also those who need short selling ideas for cover your Portfolios and all this can be combined with stock options.
The market is very big and offers a great variety of opportunities, that many miss because they only focus on the companies most named by the financial media
a clear example is the Technology Industry where the financial media and the social networks only talk about (Apple-Google-Microsoft-Facebook-Amazon)
and forget that there are 164 NYSE listed Technology Companies and 435 NASDAQ listed Technology Companies.
It also happens that some have a cognitive bias between Basic Industries Companies and Technology Companies because they think that
Basic Industries are unsophisticated and smell like coal, especially the youngest without experience
and not to mention the aversion that young people have towards Finance Companies (Banks) because they fell in love of cryptocurrencies.
Look now with higher interest rates the Financial industry is going through a good time after the 2008 crisis, and the crowd do not see that
PAYX - Long Paychex, Inc. is a provider of integrated human capital management solutions for payroll, human resource, retirement and insurance services for small- to medium-sized businesses in the United States.
The jump from 200MA and the subsequent consolidation of the price, gives a good opportunity for BUY. Our target is a strong resistance level at $ 70.
P/E 28.53
Forward P/E 23.71
Open 66.59
SL 65.66
TP 70.31
Good Luck !