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SmarTrend Watching for Potential Rebound in Shares of Paychex Inc After 1.01% Loss

By Nick Russo

Paychex Inc (NASDAQ:PAYX) traded in a range yesterday that spanned from a low of $68.32 to a high of $69.90. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $69.45 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Paychex Inc share prices have moved between a 52-week high of $76.02 and a 52-week low of $59.36 and are now trading 16% above that low price at $68.82 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

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.

Keywords: rebounders paychex inc

Ticker(s): PAYX