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:



Related Articles

    Related Partner Headlines

      You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 18,472.17 ▼1.58 (-0.01%)
      o S&P 500 2,166.58 ▼2.60 (-0.12%)
      o NASDAQ 5,139.81 ▲29.76 (0.58%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,472.17 Trade time:4:34PM EDT Value change:▼1.58 (-0.01%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,166.58 Trade time:4:34PM EDT Value change:▼2.60 (-0.12%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,139.81 Trade time:5:15PM EDT Value change:▲29.76 (0.58%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.