PAYX Breakout
Monday, August 06, 2007
Paychex shares were up more than 5% after said late Friday that it would initiate a share buyback of $1 billion. Stock made today a new 52 week high at $44.95 breaking the major resistance of $43.82. Looking at the daily chart, we can see a lot of Bullish signs given by the overall indicators, such as MACD ( K line is now on top of D line ) and RSI ( above 70 ). Support $43.82. Keep an eye on PAYX.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Labels: PAYX
