Nov. 14 at 3:14 AM
$PAYX is currently facing bearish market conditions, indicated by a last close of
$111.8, significantly below the 30-day moving average (MA30) of
$121.28 and the 50-day moving average (MA50) of
$125.0. The RSI at 14.76 suggests that the stock is oversold, which could indicate a potential reversal, but the overall trend remains negative.
Given the 60-day high of
$141.19 and low of
$109.99, there is a defined range that can be exploited. A suggested entry point could be around
$110, just above the 60D low, to capitalize on a possible bounce. A stop loss should be placed at
$109 to limit potential losses.
For targets, consider a first target at
$115, aligning with resistance near the MA30, and a second target at
$120, which is near the MA50. This plan allows for a risk-reward ratio that could favor a short-term rebound while managing risk effectively.
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