Bears Appeared on Paychex

payx New York, October 10th (TradersHuddle.com) - Shares of Paychex, Inc. (NASDAQ:PAYX) ended the trading session lower by $0.33 or -0.98% from its previous close. Paychex's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Paychex, Inc. (NASDAQ:PAYX) provides comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the United States.

Paychex's current stock range is determined by calculated support defined at $32.65 and by the resistance level at $33.40, which should be used by traders planning their next move.

If traders want to establish a position in Paychex, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Paychex for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,857.34 ▼185.56 (-1.09%)
o S&P 500 1,956.45 ▼15.84 (-0.80%)
o NASDAQ 4,443.57 ▼49.82 (-1.11%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,857.34 Trade time:12:13PM EDT Value change:▼185.56 (-1.09%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,956.45 Trade time:12:13PM EDT Value change:▼15.84 (-0.80%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,443.57 Trade time:12:13PM EDT Value change:▼49.82 (-1.11%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.