PAYCHEX INC. - 1H - Technical analysis published on 02/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 121.59 USD
My targets
118.45 USD (-2.08%)
117.78 USD (-2.63%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on PAYCHEX INC. as long as the price remains well below 121.59 USD. The sellers' bearish objective is set at 118.45 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 117.78 USD. In case of crossing, the next objective would be the support located at 116.77 USD.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The PAYCHEX INC. rating is 120.96 USD. On the day, this instrument lost -0.12% and was between 120.19 USD and 121.63 USD. This implies that the price is at +0.64% from its lowest and at -0.55% from its highest.120.19
121.63
120.96
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by PAYCHEX INC.:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this PAYCHEX INC. chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Bullish harami cross
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 117.78 | 118.45 | 120.36 | 120.96 | 121.59 | 124.39 | 125.85 |
| Change (%) | -2.63% | -2.08% | -0.50% | - | +0.52% | +2.84% | +4.04% |
| Change | -3.18 | -2.51 | -0.60 | - | +0.63 | +3.43 | +4.89 |
| Level | Minor | Major | Intermediate | - | Major | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 116.77 | 118.00 | 119.55 | 120.78 | 122.33 | 123.56 | 125.11 |
| Camarilla | 120.34 | 120.59 | 120.85 | 121.10 | 121.36 | 121.61 | 121.87 |
| Woodie | 116.93 | 118.08 | 119.71 | 120.86 | 122.49 | 123.64 | 125.27 |
| Fibonacci | 118.00 | 119.06 | 119.72 | 120.78 | 121.84 | 122.50 | 123.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 115.36 | 117.85 | 119.40 | 121.89 | 123.44 | 125.93 | 127.48 |
| Camarilla | 119.83 | 120.20 | 120.57 | 120.94 | 121.31 | 121.68 | 122.05 |
| Woodie | 114.88 | 117.62 | 118.92 | 121.66 | 122.96 | 125.70 | 127.00 |
| Fibonacci | 117.85 | 119.40 | 120.35 | 121.89 | 123.44 | 124.39 | 125.93 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 109.92 | 113.34 | 117.54 | 120.96 | 125.16 | 128.58 | 132.78 |
| Camarilla | 119.64 | 120.33 | 121.03 | 121.73 | 122.43 | 123.13 | 123.83 |
| Woodie | 110.30 | 113.54 | 117.92 | 121.16 | 125.54 | 128.78 | 133.16 |
| Fibonacci | 113.34 | 116.25 | 118.05 | 120.96 | 123.87 | 125.67 | 128.58 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.08 | |
| MACD (12,26,9): | -0.2000 | |
| Directional Movement: | -5.27 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 120.88 | |
| Parabolic SAR (0,02-0,02-0,2): | 121.60 | |
| Elder Ray (13): | -0.29 | |
| Super Trend (3,10): | 122.79 | |
| Zig ZAG (10): | 120.84 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 39.55 | |
| TEMA (21): | 120.74 | |
| Williams %R (14): | -62.20 | |
| Chande Momentum Oscillator (20): | -0.92 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 2.12 |
| MA7: | 121.34 | |
| MA20: | 120.65 | |
| MA50: | 121.64 | |
| MA100: | 118.15 | |
| MAexp7: | 120.91 | |
| MAexp20: | 121.11 | |
| MAexp50: | 121.28 | |
| MAexp100: | 121.20 | |
| Price / MA7: | -0.31% | |
| Price / MA20: | +0.26% | |
| Price / MA50: | -0.56% | |
| Price / MA100: | +2.38% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.26% | |
| Price / MAexp100: | -0.20% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on PAYCHEX INC. at the time of the generation of this analysis was as follows:
- Small Business Jobs and Wages Increase Modestly in March
- Paychex Named Among FORTUNE's Most Innovative Companies
- Paychex, Inc. Reports Third Quarter Results: Strong Revenue and Earnings Growth
- Paychex Charitable Foundation to Donate $1 Million to Mental Health America
- Paychex, Inc. Schedules Third Quarter Fiscal 2023 Earnings Conference Call for March 29, 2023
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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