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- 6/26/2020 -
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Paychex Inc. (PAYX)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overbought
Daily :Williams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Paychex Inc. (PAYX). During the week, the PAYX dropped -2.18 points, or -2.95%, and closed at 71.79 on Friday, June 26, 2020. Weekly volume was -24% below average.

PAYX is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PAYX long-term trend chart]
A long-term uptrend had started on March 3, 2009 at 20.31 and reached 90.54 on February 20, 2020. PAYX gained -70.23 points, or -345.79%, in 572 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 43.48 and resistance is at 92.21. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See PAYX medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 47.87 and reached 80.63 on June 8, 2020. PAYX gained -32.76 points, or -68.44%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 70.38 and resistance is at 84.95. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See PAYX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since May 29, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PAYX short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 80.63 and reached 71.04 on June 25, 2020. PAYX lost 9.59 points, or 11.89%, in 17 days. The price is now at the 7.82% retracement level.

Daily Technical Indicators: [See PAYX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since June 12, 2020. This is an indication that the short-term trend is down.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.75
Williams' Percentage Range (W%R) 83.50
Oversold
Lane's Stochastic (%D-Slow) 24.42
Greed/Fear Indicator (GFI) 23.21
Moving Average Converg./Diverg. (MACD) 1.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.50
Williams' Percentage Range (W%R) 42.00
Lane's Stochastic (%D-Slow) 81.41
Overbought
Greed/Fear Indicator (GFI) 65.35
Moving Average Converg./Diverg. (MACD) -3.41
Trading Signals
Description Value Chart
Monthly Trendline Resistance 84.95
Upper Bollinger Band 78.24
Weekly Stochastic Crossing 76.16
20 Day Moving Average 74.88
Parabolic System 74.87
Daily Stochastic Crossing 72.31
Price 71.79
Monthly Trendline Support 70.38
50 Day Moving Average 70.30
Lower Bollinger Band 68.46
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry Data Processing & Outsourced Services 92
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 78.07
High Date 06/16/2020
Low 71.04
Low Date 06/25/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.63
High Date 06/08/2020
Low 71.04
Low Date 06/25/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 84.95
Support 70.38
Low 47.87
Low Date 03/18/2020
High 80.63
High Date 06/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 90.54
High Date 02/20/2020
Low 47.87
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 92.21
Support 43.48
Low 20.31
Low Date 03/03/2009
High 90.54
High Date 02/20/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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