PAYC - Possible Falling Wedge Forming
Very strong & steep bull trend. Price action plays close to the 50 EMA, and lives above the 200 EMA. Though the 50 EMA crossing over the 200 EMA has proven to be bearish - it is unreliable as a lagging indicator.
Volume is slowly decreasing overall, picking up when in contact with resistance of the possible falling wedge. Shows that it may fully respect the wedge to play out.
If this falling wedge plays out with some volume on the breakout, this would be a bullish breakout for PAYC. If you want to play this scenario, there is low risk in accumulating around the wedge support. and to sell on the breakout - looking like sometime in September.
Volume is slowly decreasing overall, picking up when in contact with resistance of the possible falling wedge. Shows that it may fully respect the wedge to play out.
If this falling wedge plays out with some volume on the breakout, this would be a bullish breakout for PAYC. If you want to play this scenario, there is low risk in accumulating around the wedge support. and to sell on the breakout - looking like sometime in September.
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