Paylocity Holding Corporation Stock Forecast
Paylocity Holding Corporation stock downgraded from Sell Candidate to Strong Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Paylocity Holding Corporation stock price fell by -3.82% on the last day (Wednesday, 1st May 2024) from $155.16 to $149.24. During the last trading day the stock fluctuated 4.75% from a day low at $148.92 to a day high of $155.99. The price has been going up and down for this period, and there has been a -4.87% loss for the last 2 weeks. Volume has increased on the last day by 430 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 774 thousand shares were bought and sold for approximately $115.59 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($155.22) are considered to be a "second chance" to get out. According to the fan-theory $141.97 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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PCTY Signals & Forecast
There are few to no technical positive signals at the moment. The Paylocity Holding Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $155.83 and $164.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -13.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Paylocity Holding Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.07 between high and low, or 4.75%. For the last week, the stock has had daily average volatility of 2.52%.
Paylocity Holding Corporation is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PCTY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Paylocity Holding Corporation to open at $151.38, and during the day (based on 14 day Average True Range), to move between $144.89 and $153.59, which gives a possible trading interval of +/-$4.35 (+/-2.91%) up or down from last closing price. If Paylocity Holding Corporation takes out the full calculated possible swing range there will be an estimated 5.83% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $166.13, some $16.89 (11.32%) from the current price of $149.24, our system finds the risk reward not very attractive.
Earnings coming up
Paylocity Holding Corporation will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.94. We will update the financials statements for Paylocity Holding Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.76% in the first trading day after earnings release.
Is Paylocity Holding Corporation stock A Buy?
Paylocity Holding Corporation holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.172 Strong Sell Candidate Downgraded
Predicted Opening Price for Paylocity Holding Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $151.38 ( 1.44%) | $149.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 158.45 | 6.17 % | |
| R2 | 155.75 | 4.36 % | ||
| R1 | 154.08 | 3.25 % | ||
| Current price: | 149.24 | |||
| Support | S1 | 148.68 | -0.373 % | |
| S2 | 147.01 | -1.49 % | ||
| S3 | 144.31 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 174.95 | 17.23 % | |
| R2 | 171.91 | 15.19 % | ||
| R1 | 166.13 | 11.32 % | ||
| Current price | 149.24 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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