PAYX peaked in late November and has since carved out a series of lower highs and lower lows. It is now coming into an area of congestion at the $38.00 level. A retracement from the last leg down by 38-62% would tie in nicely with two congestion areas on the smaller time frame. This is not a buy recommendation, just a name to keep on the radar screen. I also see some positive divergences of the RSI and ADX line on the 15 minute time frame.
Click on charts for larger views.
After an orderly pullback from the mid-December high, NIHD's late afternoon bounce formed a hammer reversal bar closing on the 50 period SMA. NIHD looks well positioned to retrace at least 38% of the pullback should the market rebound this week. This would bring the price back up to the $45.00 area.
No comments:
Post a Comment