• Error loading component: com_content, 1
  • Error loading component: com_content, 1
  • Error loading component: com_content, 1

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:

Stock Market

o Dow Jones 16,790.19 ▲13.76 (0.08%)
o S&P 500 1,979.92 ▼7.13 (-0.36%)
o NASDAQ 4,748.36 ▼32.90 (-0.69%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,790.19 Trade time:4:33PM EDT Value change:▲13.76 (0.08%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,979.92 Trade time:4:33PM EDT Value change:▼7.13 (-0.36%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,748.36 Trade time:5:15PM EDT Value change:▼32.90 (-0.69%)
Copyright © 2013 All Rights Reserved.