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Watch for Paychex Inc to Potentially Pullback After Gaining 1.20% Yesterday

By James Quinn

Paychex Inc (NASDAQ:PAYX) traded in a range yesterday that spanned from a low of $82.81 to a high of $84.22. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $84.08 on volume of 315,000 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 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.

In the past 52 weeks, Paychex Inc share prices have been bracketed by a low of $61.32 and a high of $88.43 and are now at $84.10, 37% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

Keywords: rebounders paychex inc

Ticker(s): PAYX