In a welcome move, Paychex (PAYX) saw its Relative Strength Rating improve from 68 to 72 on Thursday.
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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily measures share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they launch their largest price moves. See if Paychex can continue to show renewed price strength and hit that benchmark.
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Paychex is working on a cup without handle with a 129.70 buy point. See if the stock can break out in heavy trade.
Paychex showed 11% EPS growth in the latest quarterly report. Sales gains came in at 7%. Look for the next report on or around Dec. 21.
The company holds the No. 5 rank among its peers in the Commercial Services-Outsourcing industry group. Crawford Cl A (CRDA) and Crawford & Co B (CRDB) are also among the group’s highest-rated stocks.
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