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Paychex Bullish Moving Average Crossover Alert (PAYX)

By Shiri Gupta

Paychex (NASDAQ:PAYX) shares have crossed bullishly above their 10-day moving average of $52.29 on a volume of 236K shares. This may provide swing traders with an opportunity 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 $54.78 and a 52-week low of $41.59 and are now trading 26% above that low price at $52.42 per share. The 200-day and 50-day moving averages have moved 0.18% higher and 0.09% higher over the past week, respectively.

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 3.2%. We continue to monitor PAYX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses paychex

Ticker(s): PAYX