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Paylocity Holdin Rises 6.55% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Paylocity Holdin (NASDAQ:PCTY) traded in a range yesterday that spanned from a low of $86.14 to a high of $91.81. Yesterday, the shares gained 6.5%, which took the trading range above the 3-day high of $86.94 on volume of 109,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Paylocity Holdin has traded in a range of $66.98 to $150.73 and is now at $89.00, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 2.9%.

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

Keywords: rebounders paylocity holdin

Ticker(s): PCTY