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Watch for Paycom Software to Potentially Rebound After Falling 1.93% Yesterday

By David Diaz

Paycom Software (NYSE:PAYC) traded in a range yesterday that spanned from a low of $231.40 to a high of $238.42. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $232.50 on volume of 194,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Paycom Software has traded in a range of $174.02 to $342.00 and is now at $234.85, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Paycom Software and will alert subscribers who have PAYC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders paycom software

Ticker(s): PAYC