Technical Analysis Of Paychex Inc.
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Today’s instrument is Paychex Inc.’s stock traded on the Nasdaq exchange under the ticker PAYX.
Looking at the PAYX’ chart, we can see that yesterday it jumped more than 6% due to the announced better-than-expected quarterly results and it was lastly traded at around $116 which is also the resistance level.
Today, we should expect a correction towards the support level at around $111.50, and if it is not able to hold it above that level then it could reach the next one at around $108.
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