A Dark Cloud Forms Over Paychex

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Paychex (PAYX) is having all kinds of problems breaking through resistance in the 41.7 area. A bearish engulfing is taking shape today and this is the third bearish candlestick reversal pattern in six weeks. The late May and early June lows mark support in the 40.2-40.4 area and a break below this level would argue for lower prices. Note that chartists can enter a symbol on the predefined scans page to find out if it made any of the scans.


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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