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Archive
- 4/19/2024 -
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Paychex Inc. (PAYX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Paychex Inc. (PAYX). During the week, the PAYX dropped -3.48 points, or -2.83%, and closed at 119.52 on Friday, April 19, 2024. It was the worst weekly loss since December 22, 2023. Weekly volume was 20% above average.
 Long-term trend: [See PAYX long-term trend chart]
A long-term uptrend had started on March 3, 2009 at 20.31 and reached 141.92 on April 5, 2022. PAYX gained -121.61 points, or -598.77%, in 683 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (114.70). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See PAYX medium-term trend chart]
A medium-term downtrend had started on February 23, 2024 at 125.26 and reached 114.72 on April 2, 2024. PAYX lost 10.54 points, or 8.41%, in 5 weeks. The price is now at the 45.54% retracement level.
 Weekly Technical Indicators: [See PAYX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 8, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See PAYX short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 114.72 and reached 126.71 on April 9, 2024. PAYX gained -11.99 points, or -10.45%, in 7 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See PAYX daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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