Bullish Moving Average Cross by Paychex (PAYX)
Paychex (NASDAQ:PAYX) crossed over its 10-day moving average of $54.84 on a volume of 241K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
Paychex share prices have moved between a 52-week high of $55.64 and a 52-week low of $41.59 and are now trading 34% above that low price at $55.58 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.
SmarTrend recommended that subscribers consider buying shares of Paychex on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.40. Since that recommendation, shares of Paychex have risen 8.3%. We continue to monitor PAYX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses paychex