PAYCHEX INC. - Daily - Technical analysis published on 07/12/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
33%
44%
My opinion
Bearish under 122.74 USD
My targets
112.95 USD (-2.70%)
110.20 USD (-5.07%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on PAYCHEX INC. as long as the price remains well below 122.74 USD. The sellers' bearish objective is set at 112.95 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 110.20 USD. In case of crossing, the next objective would be the support located at 104.83 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PAYCHEX INC. rating 116.08 USD. On the day, this instrument lost -0.12% with the lowest point at 115.40 USD and the highest point at 117.42 USD. The deviation from the price is +0.59% for the low point and -1.14% for the high point.115.40
117.42
116.08
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this PAYCHEX INC. chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Aroon indicator bearish trend
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near support of triangle
Type : Bullish
Timeframe : Daily
Horizontal support is broken
Type : Bearish
Timeframe : Daily
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 104.83 | 110.20 | 112.95 | 116.08 | 116.16 | 122.74 | 126.75 |
| Change (%) | -9.69% | -5.07% | -2.70% | - | +0.07% | +5.74% | +9.19% |
| Change | -11.25 | -5.88 | -3.13 | - | +0.08 | +6.66 | +10.67 |
| Level | Minor | Major | Major | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 113.79 | 114.53 | 115.37 | 116.11 | 116.95 | 117.69 | 118.53 |
| Camarilla | 115.79 | 115.93 | 116.08 | 116.22 | 116.37 | 116.51 | 116.66 |
| Woodie | 113.85 | 114.56 | 115.43 | 116.14 | 117.01 | 117.72 | 118.59 |
| Fibonacci | 114.53 | 115.13 | 115.50 | 116.11 | 116.71 | 117.08 | 117.69 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 106.84 | 109.28 | 113.04 | 115.48 | 119.24 | 121.68 | 125.44 |
| Camarilla | 115.10 | 115.66 | 116.23 | 116.80 | 117.37 | 117.94 | 118.51 |
| Woodie | 107.50 | 109.61 | 113.70 | 115.81 | 119.90 | 122.01 | 126.10 |
| Fibonacci | 109.28 | 111.65 | 113.11 | 115.48 | 117.85 | 119.31 | 121.68 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 90.10 | 100.28 | 107.08 | 117.26 | 124.06 | 134.24 | 141.04 |
| Camarilla | 109.20 | 110.76 | 112.31 | 113.87 | 115.43 | 116.98 | 118.54 |
| Woodie | 88.40 | 99.44 | 105.38 | 116.42 | 122.36 | 133.40 | 139.34 |
| Fibonacci | 100.28 | 106.77 | 110.78 | 117.26 | 123.75 | 127.76 | 134.24 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 44.36 | |
| MACD (12,26,9): | -1.3600 | |
| Directional Movement: | -8.93 | |
| AROON (14): | -35.72 | |
| DEMA (21): | 115.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 123.48 | |
| Elder Ray (13): | -0.51 | |
| Super Trend (3,10): | 113.56 | |
| Zig ZAG (10): | 115.99 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 37.29 | |
| TEMA (21): | 115.79 | |
| Williams %R (14): | -66.76 | |
| Chande Momentum Oscillator (20): | -1.30 | |
| Repulse (5,40,3): | 0.8300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1800 | |
| Courbe Coppock: | 1.34 |
| MA7: | 116.35 | |
| MA20: | 116.84 | |
| MA50: | 120.03 | |
| MA100: | 123.66 | |
| MAexp7: | 116.44 | |
| MAexp20: | 117.59 | |
| MAexp50: | 120.23 | |
| MAexp100: | 121.69 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | -0.65% | |
| Price / MA50: | -3.29% | |
| Price / MA100: | -6.13% | |
| Price / MAexp7: | -0.31% | |
| Price / MAexp20: | -1.28% | |
| Price / MAexp50: | -3.45% | |
| Price / MAexp100: | -4.61% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on PAYCHEX INC.. At the time of publication of this analysis, the latest news was as follows:
- Small Business Hiring and Wage Growth Strength Continues; Growth Rates Moderate Slightly from Previous Month
- Thinking about trading options or stock in Qualcomm, Paychex, Amazon, Occidental Petroleum, or Bank of America?
- Paychex, Inc. Reports Strong Double Digit Service Revenue and Diluted Earnings Per Share Growth for Fourth Quarter and Full Year 2022 Results
- Paychex Surpasses 100,000 Milestone for Number of 401(k) Clients Served
- Paychex, Inc. Schedules Fourth Quarter Fiscal 2022 Earnings Conference Call for June 29, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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