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Paychex Inc Crosses Below its 10-day MA (PAYX)

By David Diaz

Paychex Inc (NASDAQ:PAYX) shares have crossed bearishly below their 10-day moving average of $70.40 on a volume of 392K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Paychex Inc has traded in a range of $54.43 to $73.10 and is now at $70.15, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Paychex Inc on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.53. Since that recommendation, shares of Paychex Inc have risen 13.8%. We continue to monitor PAYX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses paychex inc

Ticker(s): PAYX