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

      Volatile market? That's when profit potential skyrockets for options traders. Now you can get up to 50 trade opportunities a week from top options experts -- plus much more -- on our exciting new site OptionsProfits. Try it FREE!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 18,061.42 ▼64.70 (-0.36%)
      o S&P 500 2,114.96 ▼5.83 (-0.27%)
      o NASDAQ 5,081.92 ▼16.06 (-0.32%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,061.42 Trade time:10:14AM EDT Value change:▼64.70 (-0.36%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,114.96 Trade time:10:14AM EDT Value change:▼5.83 (-0.27%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,081.92 Trade time:10:14AM EDT Value change:▼16.06 (-0.32%)
      Copyright © 2013 TradersHuddle.com. All Rights Reserved.