(PAYX) Long-term investment analysis

December 1, 2024, 9:34am ET, BY Jeff W. – Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer term trading plans for PAYX

• Buy PAYX near 144.71. Target: stop loss at 144.29. Details

The technical summary data tells us to buy PAYX near 144.71, but there is no current upside target in the summary table. In this case, we should wait until either an update to the summary table has been made (which usually happens at the beginning of each trading day) or until the position has been stopped. The data tells us that we should set a stop loss at 144.29 to protect ourselves from excessive losses if the stock starts moving against the trade. 144.71 is the first level of support below 146.27 and basically any test of support is a buy signal. In this case, if the support 144.71 is tested, a buy signal would be present.

• NO. Details

NO.
There are no current resistance levels from the summary table and therefore there are no short resistance plans telling us to short on resistance tests. The resistance levels have broken to the upside and if the stock does not move back down and below the support levels, short positions look risky.

Swing trading plans for PAYX

• Buy PAYX slightly above 146.72, target n/a, stop loss at 146.3 Details

If 146.72 starts to break higher, the technical summary data tells us to buy PAYX just above 146.72 with an upside target of n/a. The data also tells us to set a stop loss at 146.3 in case the stock turns against the trade. 146.72 is the first resistance level above 146.27 and basically any break above resistance is a buy signal. In this case, 146.72, the initial resistance, would break to the upside, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short PAYX is slightly near 146.72, target 144.71, stop loss at 147.14. Details

Technical summary data suggests a short on PAYX if it tests 146.72, with a downside target of 144.71. However, we should have a stop loss at 147.14 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if resistance 146.72 is tested, a short signal would be present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for PAYX

• Buy PAYX slightly above 146.72, target 147.2, stop loss at 146.38 Details

If 146.72 starts to break higher, the technical summary data tells us to buy PAYX just above 146.72 with an upside target of 147.2. The data also tells us to set a stop loss at 146.38 in case the stock turns against the trade. 146.72 is the first resistance level above 146.27 and basically any break above resistance is a buy signal. In this case, 146.72, the initial resistance, would break to the upside, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short PAYX is slightly near 146.72, target 146.04, stop loss at 147.06. Details

Technical summary data suggests a short on PAYX if it tests 146.72 with a downside target of 146.04. However, we should have a stop loss at 147.06 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if resistance 146.72 is tested, a short signal would be present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Check the timestamp of this data. Updated AI generated signals for Paychex Inc. (PAYX) available here: PAYX.

PAYX ratings for December 1st:

AI generated signals for PAYX

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Technically, Paychex Inc. (NASDAQ: PAYX) offers opportunities for traders who watch how the stock price fluctuates over time.

Warning:

This is a static report. The following data was valid at the time of publication, but support and resistance levels for PAYX change over time, so the report should be updated regularly. Real-time updates are provided to subscribers. Unlimited real-time reports.

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Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, when PAYX tests support, buy signals emerge and resistance is the target. Conversely, if resistance is tested, it is a sign to control risk or sell, and support would accordingly be the downside target. In any case, the trigger point serves as both an ideal place to enter a position (avoid trading in the middle of a trading channel) and a risk control layer.

Swing Trades, Day Trades and Longer Term Trading Plans:

This data is refined to distinguish trading plans for day trading, swing trading and long-term investment plans also for PAYX. All of this is offered below the overview table.