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Watch for Paychex Inc to Potentially Pullback After Gaining 1.27% Yesterday

By James Quinn

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.

Paychex Inc share prices have moved between a 52-week high of $73.10 and a 52-week low of $52.78 and are now trading 23% above that low price at $65.03 per share. The 200-day and 50-day moving averages have moved 0.18% higher and 0.09% higher over the past week, respectively.

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