Buyers Piling Into Paychex Shares After Positive Q4 Financial Performance

Paychex, Inc. had reported fiscal Q4 financial results before the markets opened on Thursday (30/6). The company’s revenue came in at $753.9 million, ticking up 8.6% from the figure in the same period last year. Paychex, Inc.’s EPS came in at $0.49, matching the consensus estimates from Thomson Reuters. On the hourly chart, the stock has witnessed a steady move upward, reaching 59.50. RSI (14) has entered the overbought territory, hovering around 87.0811. Stochastic chart shows that the stock has rocketed to the overbought zone, but the %K line has not crossed the %D line successfully, allowing bulls to continue forward.

Trade suggestion

Buy stop at 59.62, Take profit at 59.88, Stop loss at 59.42

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