Paylocity Holding Corporation Stock Forecast
Big movements in Paylocity Holding Corporation stock price on Friday moving 11.05% between high and low
(Updated on May 03, 2024)
The Paylocity Holding Corporation stock price gained 12.05% on the last trading day (Friday, 3rd May 2024), rising from $149.60 to $167.63. During the last trading day the stock fluctuated 11.05% from a day low at $166.38 to a day high of $184.77. The price has risen in 6 of the last 10 days and is up by 6.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 733 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $340.16 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $165.76, a level that may pose a second chance to hit a runner. According to fan-theory $182.72 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PCTY Signals & Forecast
The Paylocity Holding Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $156.14 and $164.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 12.32%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Paylocity Holding Corporation stock
Paylocity Holding Corporation finds support from accumulated volume at $166.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $18.39 between high and low, or 11.05%. For the last week, the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: $161.06 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (PCTY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Paylocity Holding Corporation to open at $172.93, and during the day (based on 14 day Average True Range), to move between $160.77 and $174.49, which gives a possible trading interval of +/-$6.86 (+/-4.09%) up or down from last closing price. If Paylocity Holding Corporation takes out the full calculated possible swing range there will be an estimated 8.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $168.30 (0.40%) than the support at $166.13 (0.89%), 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.
Is Paylocity Holding Corporation stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.521 Buy Candidate Upgraded
Predicted Opening Price for Paylocity Holding Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $172.93 ( 3.16%) | $167.63 |
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 | 191.32 | 14.13 % | |
| R2 | 184.29 | 9.94 % | ||
| R1 | 179.95 | 7.35 % | ||
| Current price: | 167.63 | |||
| Support | S1 | 165.90 | -1.03 % | |
| S2 | 161.56 | -3.62 % | ||
| S3 | 154.53 | -7.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 174.95 | 4.37 % | |
| R2 | 171.91 | 2.55 % | ||
| R1 | 168.30 | 0.400 % | ||
| Current price | 167.63 | |||
| Support | S1 | 166.13 | -0.89% | |
| S2 | 149.60 | -10.76% | ||
| S3 | 149.24 | -10.97% |
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