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Look for Shares of Paychex Inc to Potentially Pullback after Yesterday's 1.27% Rise

By David Diaz

Paychex Inc (NASDAQ:PAYX) traded in a range yesterday that spanned from a low of $64.15 to a high of $65.11. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $64.32 on volume of 719,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Paychex Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Paychex Inc in search of a potential trend change.

In the past 52 weeks, shares of Paychex Inc have traded between a low of $52.78 and a high of $73.10 and are now at $65.03, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Keywords: rebounders paychex inc

Ticker(s): PAYX