Paychex Inc Stock Forecast
Stronger technical forecast for Paychex Inc stock price after Friday trading.
(Updated on Jun 28, 2024)
The Paychex Inc stock price gained 0.611% on the last trading day (Friday, 28th Jun 2024), rising from 117.84€ to 118.56€. During the last trading day the stock fluctuated 1.92% from a day low at 117.54€ to a day high of 119.80€. The price has risen in 6 of the last 10 days and is up by 4.15% 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, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately 665.09€ million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.84% during the next 3 months and, with a 90% probability hold a price between 114.45€ and 132.17€ at the end of this 3-month period.
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PCX.F Signals & Forecast
Mostly positive signals in the chart today. 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 116.36€ and 116.10€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 7.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A sell signal from a double top formation was found on Friday, May 24, 2024 with a target of 118.79€. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Paychex Inc stock
Paychex Inc finds support from accumulated volume at 117.84€ 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 2.26€ between high and low, or 1.92%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: 113.98€ (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (PCX.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Paychex Inc to open at 118.63€, and during the day (based on 14 day Average True Range), to move between 114.24€ and 122.88€, which gives a possible trading interval of +/-4.32€ (+/-3.64%) up or down from last closing price. If Paychex Inc takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 117.84€ (0.61%) than the resistance at 122.58€ (3.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Paychex Inc stock A Buy?
Paychex Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.453 Strong Buy Candidate Upgraded
Predicted Opening Price for Paychex Inc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 118.63€ ( 0.0619%) | 118.56€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCX.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 120.89 | 1.97% |
| R2 | 120.03 | 1.24% |
| R1 | 119.50 | 0.790% |
| Price | 118.56 | |
| S1 | 117.77 | -0.666% |
| S2 | 117.24 | -1.12% |
| S3 | 116.37 | -1.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 124.23 | 4.78% |
| R2 | 123.71 | 4.34% |
| R1 | 122.58 | 3.39% |
| Price | 118.56 | |
| S1 | 117.84 | -0.607% |
| S2 | 110.68 | -6.65% |
| S3 | 110.00 | -7.22% |
PCX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 30, 2024 | 0.91€ | 0% |
| 2 | Feb 12, 2024 | Feb 12, 2024 | Feb 27, 2024 | 0.82€ | 0% |
| 3 | Nov 13, 2023 | Nov 13, 2023 | Nov 13, 2023 | 0.83€ | 0% |
| 4 | Aug 09, 2023 | Aug 09, 2023 | Aug 09, 2023 | 0.81€ | 0% |
| 5 | May 10, 2023 | May 10, 2023 | May 10, 2023 | 0.81€ | 0% |
FAQ
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