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Paychex Inc Falls 1.80% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Paychex Inc (NASDAQ:PAYX) traded in a range yesterday that spanned from a low of $60.33 to a high of $61.70. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $61.26 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 $61.19, which is 16% above that low price. 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 is tracking the current trend status for Paychex Inc and will alert subscribers who have PAYX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders paychex inc

Ticker(s): PAYX