Paychex stock: buy or sell
Jun 22nd, 2021
Paychex stock brief
- Paychex closed on Monday at $103.66 after rising a 1.61%.
Should I buy Paychex stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $PAYX stock a buy?
In the current situation of Paychex there is just one buy setup eligible:
Uptrend buy setup
Paychex stock is in an uptrend since last January that so far has marked a gorgeous 23.00% gain. Price marked a pull back in this uptrend at $96.12 in mid-May, and since then it bounced off a 7.84%. Price just broke out above the buy point at $101.94, but it's still eligible. If price goes above $107.04, you should not chase the price and wait for another entry point. If you decide to enter this trade, the suggested stop loss is at $93.24
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$101.94||$93.24||8.54%|
Should I sell Paychex stock?
When you own a stock with some profit, it's really hard to decide the best moment to sell and get your profits. Trading strategies prevent us from making rash decisions based on our personal emotions or the buzz that surrounds the market. Our trading system selects very simple setups to guide us on when is a good time to sell a stock. Be aware that these setups should not be used for shorting Paychex stock
A guiding principle is that you should not mantain an investment that produces higher than expected losses at the time of purchase. When to sell your stock always has to be determined by the stop-loss (automatic or manual)
Is it time to sell Paychex stock?
Currently, Paychex stock doesn't match any of our preferred sell setups, so if you own Paychex shares and your operation is in profit probably is not time to sell now
We don't have any rating published in the previous month for Paychex
Paychex stock analysis
Since last January, Paychex has been printing an uptrend that so far marked an amazing 23.18%. The chart shows higher peaks and higher troughs, and along the way provided some entry points for those who wanted to trade in. Latest pullback was in mid-May, when price bounced at $96.12. On June 8, Paychex broke out above its last top ($101.94) giving a good buying opportunity
Supports and resistances
Price is at highs and there are not upper resistances.
The current supports are:
Since the price surpassed the upper band on June 11, the price has corrected downwards by 1.44%. The price is trading very close to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell signal, as price can move in these levels for many days and weeks
Relative strength index
The has been between the overbought and oversold zones for some weeks, and therefore, without this indicator really being of any help to us in making any decisions.
Paychex stock price history
Paychex went public on Aug 26th, 1983 at $0.00 per share1. Since then, PAYX stock surged by -, with an average of 0.00% per year. An investment of thousand dollars on Aug 1983 would be valued $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Paychex stock
Nobody can predict how much a stock will be priced in the future. However, many stock price predictions are issued every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions post their price forecasts based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new financial information by the company, and many times. Again, these estimates are not direct recommendations for small traders and must not be followed blindly.
We don't have any target price published in the last 4 weeks for Paychex.
Earnings and financials
Last April, Paychex ($PAYX) hosted the earnings call and presented the report. Paychex reported earnings of $0.96 per share on revenue of $1.1 billion. The market estimate was $0.92 per share on revenue of $1.1 billion.In contrast, the EPS for the same quarter last year was $0.97, so reported EPS is a decrease of -1.03%. Looking at turnover, figures slightly moved compared to $11.4B year over year.
Paychex ($PAYX) is presenting financial report next Tuesday. Wall Street forecasts of $0.67, compared to Q3 that made $0.96. Regarding to revenues, the estimates are $980.5 million.
Important:The comments written in this article are personal and not recommendations for you to buy or sell shares. The author of this text does not have an understanding of the particular conditions of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for informational reasons only
|Monday, June 21st, 2021|
|Day range||$102.05 - $103.9|
|Average true range||$1.73|
|50d mov avg||$99.96|
|100d mov avg||$96.46|
|200d mov avg||$90.85|
|Earnings date||July 6th, 2021|