PAYCHEX INC. - Daily - Technical analysis published on 02/16/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 117.51 USD
My targets
124.94 USD (+1.78%)
127.86 USD (+4.16%)
My analysis
PAYCHEX INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 117.51 USD. The next resistance located at 124.94 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 127.86 USD. After this resistance, buyers could then target 133.37 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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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. price is 122.75 USD. On the day, this instrument lost -0.03% and was between 122.00 USD and 123.23 USD. This implies that the price is at +0.61% from its lowest and at -0.39% from its highest.122.00
123.23
122.75
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by PAYCHEX INC.:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this PAYCHEX INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 107.20 | 117.51 | 121.19 | 122.75 | 124.94 | 127.86 | 133.37 |
Change (%) | -12.67% | -4.27% | -1.27% | - | +1.78% | +4.16% | +8.65% |
Change | -15.55 | -5.24 | -1.56 | - | +2.19 | +5.11 | +10.62 |
Level | Intermediate | Intermediate | Major | - | Minor | Intermediate | Major |
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 | 121.61 | 122.01 | 122.40 | 122.80 | 123.19 | 123.59 | 123.98 |
Camarilla | 122.57 | 122.65 | 122.72 | 122.79 | 122.86 | 122.94 | 123.01 |
Woodie | 121.61 | 122.01 | 122.40 | 122.80 | 123.19 | 123.59 | 123.98 |
Fibonacci | 122.01 | 122.31 | 122.50 | 122.80 | 123.10 | 123.29 | 123.59 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 115.88 | 117.22 | 119.68 | 121.02 | 123.48 | 124.82 | 127.28 |
Camarilla | 121.10 | 121.44 | 121.79 | 122.14 | 122.49 | 122.84 | 123.19 |
Woodie | 116.44 | 117.50 | 120.24 | 121.30 | 124.04 | 125.10 | 127.84 |
Fibonacci | 117.22 | 118.67 | 119.57 | 121.02 | 122.47 | 123.37 | 124.82 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 109.13 | 112.53 | 116.69 | 120.09 | 124.25 | 127.65 | 131.81 |
Camarilla | 118.77 | 119.46 | 120.16 | 120.85 | 121.54 | 122.24 | 122.93 |
Woodie | 109.51 | 112.72 | 117.07 | 120.28 | 124.63 | 127.84 | 132.19 |
Fibonacci | 112.53 | 115.42 | 117.20 | 120.09 | 122.98 | 124.76 | 127.65 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 58.72 | |
MACD (12,26,9): | 0.6500 | |
Directional Movement: | 2.41 | |
AROON (14): | 71.43 | |
DEMA (21): | 122.12 | |
Parabolic SAR (0,02-0,02-0,2): | 118.65 | |
Elder Ray (13): | 0.79 | |
Super Trend (3,10): | 117.68 | |
Zig ZAG (10): | 123.14 | |
VORTEX (21): | 1.0800 | |
Stochastique (14,3,5): | 90.64 | |
TEMA (21): | 122.43 | |
Williams %R (14): | -9.67 | |
Chande Momentum Oscillator (20): | 2.00 | |
Repulse (5,40,3): | 0.8700 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0500 | |
Courbe Coppock: | 2.34 |
MA7: | 122.13 | |
MA20: | 121.28 | |
MA50: | 121.11 | |
MA100: | 118.02 | |
MAexp7: | 122.06 | |
MAexp20: | 121.29 | |
MAexp50: | 120.32 | |
MAexp100: | 118.87 | |
Price / MA7: | +0.51% | |
Price / MA20: | +1.21% | |
Price / MA50: | +1.35% | |
Price / MA100: | +4.01% | |
Price / MAexp7: | +0.57% | |
Price / MAexp20: | +1.20% | |
Price / MAexp50: | +2.02% | |
Price / MAexp100: | +3.26% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on PAYCHEX INC. at the time of the analysis were 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
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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