PAYC breakout

PAYC has been building a base with a pivot (buy point) at the old highs around $39.85 ish. Today it broke past that on what seems to be very strong volume. Intermediate term growth investors will be buying here.

http://stockcharts.com/freecharts/gallery.html?payc

Paycom is a relatively new issue that meets the “Saul” criteria (though he sold it recently). It recently found support at the 200dma and bounced nicely off of it (a possible nibble point for those with faith).

http://news.investors.com/081715-766822-stock-market-today-t…
Paycom Software (NYSE:PAYC) jumped more than 5% to a new high. It cleared a 39.27 buy point in a double-bottom base. The stock is No. 5 in Monday’s IBD 50.

Before the breakout…this is a good read
http://news.investors.com/081015-765890-paycom-nears-buy-poi…

IBD says the market is “under pressure” so buying breakouts is much riskier than if the market is in a “confirmed uptrend”.

Just some info. Happy hunting.

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Thanks for the information Puddin. I have a small position in this stock and the P/E is very high so that is why I am not adding to this position. In a few quarters maybe it will come down to where I feel comfortable adding more.

Andy

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Paycom is a relatively new issue that meets the “Saul” criteria (though he sold it recently).

Hi Puddinhead, From my post on Thursday, entitled “what I’ve been doing if you keep track”:

On Monday, Tuesday and Wednesday I bought…

PAYC (a new small position, my smallest) at $37.78, $38, $38.46, $38.14 and $36.66.

It was about a 1.75% position at the opening today, and will probably be slightly higher at the close (I’d say “a lot higher”, but most of my stocks are up a bunch today, which limits the percent movement against the others, inspite of the good movement in PAYC).

Saul

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