Bears Appeared on Paychex

payx New York, October 10th ( - 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:


Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 16,730.00 ▲268.68 (1.63%)
o S&P 500 1,957.04 ▲29.93 (1.55%)
o NASDAQ 4,464.59 ▲81.75 (1.87%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,730.00 Trade time:1:49PM EDT Value change:▲268.68 (1.63%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,957.04 Trade time:1:49PM EDT Value change:▲29.93 (1.55%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,464.59 Trade time:1:49PM EDT Value change:▲81.75 (1.87%)

In The Wires

Copyright © 2013 All Rights Reserved.