Paycom Software has rebounded after a big drop, and now some traders may expect further downside.
The first pattern on today’s chart is the November 1 bearish gap after earnings and guidance missed estimates. (The 38 percent drop that day was the biggest in PAYC’s nine-year history as a public company.) It was the second consecutive downside gap on...
I beleive this is a Buy!
2018 Topped at this price, 2019 Broke out of this price, 2020 Covid Bottomed at this price, and now its back to the same price after a selloff. All the meantime this company has consitently increased in revenue, gross profit, net income, revenue and equity per share!
Stock with an excellent rating. Good EPS growth
Currently in correction. Probably completes the wave 2 of impulse.
I will take it at the current price. Exit if it falls below 260
Neutral until broken.
Large volume noted today.
No recommendation.
EPS (FWD)
5.92
PE (FWD)
48.45
Div Rate (TTM)
-
Short Interest
2.23%
Market Cap
$16.59B
Paycom Software, Inc. provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data...
The PEAD projected a Bullish outlook for $PAYC after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 87.5%.
The PEAD projected a Bullish outlook for $PAYC after a Positive Under over reaction following its earnings release placing the stock in drift A with an expected accuracy of 87.5%.
Analyzing a recurring pattern along the .618 circle lines
The rectangle in white is comparable price point
Dominant Green Trend Line is looking to be maintained
The PEAD projected a Bullish outlook for $PAYC after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 85.71%.
Conviction: 3/5
could drop further to match RSI hitting solid line (oversold)
General Thesis
weekly RSI almost touching oversold levels, which have been pretty good entry points
Currently hovering around support line of channel established in July 2014
Growth
Gross margins (80%) is a lot higher than past few years
Revenue growth (30%) is about...
I have a bullish outlook on the PAYC . This a market cycle from Nov 2 - 8, 2021 it has an 88% win in the last 8 years.
I am taking 2% risk on this trade idea.
Big ole cup, can we make a handle?
Watching this to fill in the gap and ride to the top.
Entry is under $230
Setting this as "neutral" but its long term bull, its just that it will appear bear for a while if it makes that handle.
PAYC broke out of downward trendline and just confirmed the cup and handle on the daily time frame - should be easy 20% - doesn't look like much significant resistance on volume profile.
What you witness here is a typical Expanding Diagonal. This last leg can push above the trend line, BUT dont be fooled.
"Contracting diagonals can overshoot its trend line during wave 5 (called throw-over) and still be valid as long as wave 5 remains smaller than wave 3"
We are already seeing a clear break-out of the bullflag!
PAYC having a rough time after momentarily moving out of its downtrending channel but only temporarily. This has been falling pretty fast and might fall all the way down to the lower channel line before some proper support comes in.
