Apr 16, 2021 (Stock Traders Daily via COMTEX) -- Investors in Paychex /zigman2/quotes/202030365/composite PAYX -2.32% like to make good decisions, that means they like to buy and sell at the right times, and to do that the best tools involve charts, pivot points, and the technical data. Below, we have provided a snapshot for PAYX that reveals this information at the time of this article. The data can be used to improve the timing of buy and sell decisions. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
The Technical Summary and Trading Plans for PAYX help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this PAYX Report.
The technical summary data tells us to buy PAYX near 92.85 with an upside target of 97.92. This data also tells us to set a stop loss @ 92.58 to protect against excessive loss in case the stock begins to move against the trade. 92.85 is the first level of support below 96.31 , and by rule, any test of support is a buy signal. In this case, support 92.85 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of PAYX as it gets near 97.92 with a downside target of 92.85. We should have a stop loss in place at 98.2though. 97.92 is the first level of resistance above 96.31, and by rule, any test of resistance is a short signal. In this case, if resistance 97.92 is being tested, so a short signal would exist.
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