Paychex, Inc. Stock Forecast
Paychex, Inc. stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Paychex, Inc. stock price gained 1.32% on the last trading day (Monday, 17th Jun 2024), rising from 122.05 лв to 123.66 лв. During the last trading day the stock fluctuated 2.01% from a day low at 121.28 лв to a day high of 123.71 лв. The price has been going up and down for this period, and there has been a 3.34% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 539 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately 123.91 лв thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Paychex, Inc. stock with a 90% probability to be traded between 119.87 лв and 129.03 лв at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0KGE.L Signals & Forecast
The Paychex, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 122.50 лв and 122.16 лв. A breakdown below any of these levels will issue sell signals. Paychex, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -0.262%. 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). The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should go up by 3.14% to 127.54 лв within 19 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Paychex, Inc. stock
Paychex, Inc. finds support from accumulated volume at 121.90 лв and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 2.43 лв (2.01%) between high and low. For the last week, the stock has had daily average volatility of 1.17%.
Our recommended stop-loss: 118.58 лв (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (0KGE.L) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Paychex, Inc. to open at 122.88 лв, and during the day (based on 14 day Average True Range), to move between 121.81 лв and 125.51 лв, which gives a possible trading interval of +/-1.85 лв (+/-1.50%) up or down from last closing price. If Paychex, Inc. takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 123.99 лв (0.26%) than the support at 121.90 лв (1.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Paychex, Inc. will release earnings BMO on Wednesday, June 26, 2024. We will update the financials statements for Paychex, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.42% in the first trading day after earnings release.
Is Paychex, Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Paychex, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.525 Buy Candidate Upgraded
Predicted Opening Price for Paychex, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| 122.88 лв ( 0.629%) | 123.66 лв |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0KGE.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 125.32 | 1.34% |
| R2 | 124.39 | 0.588% |
| R1 | 123.81 | 0.123% |
| Price | 123.66 | |
| S1 | 121.95 | -1.38% |
| S2 | 121.38 | -1.85% |
| S3 | 120.45 | -2.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 127.43 | 3.05% |
| R2 | 125.15 | 1.21% |
| R1 | 123.99 | 0.263% |
| Price | 123.66 | |
| S1 | 121.90 | -1.42% |
| S2 | 121.48 | -1.76% |
| S3 | 119.07 | -3.71% |
0KGE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 30, 2024 | 0.98 лв | 0.83% |
| 2 | Feb 12, 2024 | Feb 12, 2024 | Feb 27, 2024 | 0.89 лв | 0.727% |
| 3 | Nov 13, 2023 | Nov 13, 2023 | Nov 13, 2023 | 0.89 лв | 0.778% |
| 4 | Aug 09, 2023 | Aug 09, 2023 | Aug 09, 2023 | 0.89 лв | 0.720% |
| 5 | May 10, 2023 | May 10, 2023 | May 10, 2023 | 0.89 лв | 0.82% |
FAQ
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