Technical Washout Creates PAYX Opportunity at $88.48
Paychex Inc (PAYX) ticked higher by 1.25% to $88.48 on February 25.
Key indicators suggest a bearish bias:
Moving Averages
The stock trades below its 9-day EMA ($92.08) with the 21-day ($96.60) acting as overhead resistance.
Momentum
RSI at 26.0 is approaching oversold territory, which may present buying opportunities. MACD reads -4.76 against its -4.24 signal line (bearish).
Volatility
Bollinger Band width at 20.1% indicates normal volatility.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $86.98.
Watch $86.98 as support and $106.36 as resistance.
