Paychex stock had its Relative Strength (RS) Rating upgraded from 67 to 72 Tuesday -- a welcome improvement, but still short of the 80 or higher score you look for.
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 tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves. See if Paychex stock can continue to rebound and hit that benchmark.
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Is Paychex Stock A Buy?
Paychex stock has been rallying off its 50-day and 200-day moving average the past month. While it's not currently an ideal time to jump in, see if the stock goes on to form a chart pattern and break out.
While revenue growth fell last quarter from 8% to 7%, the bottom line grew 20%, up from 12% in the prior report.
Paychex stock holds the No. 3 rank among its peers in the Commercial Services-Outsourcing industry group. Paychex and Automatic Data are also among the group's highest-rated stocks.
