Not too relevant here, but by the CANSLIM/IBD standards it had a breakout Friday.
Notice the nice high volume, 2x average. New highs coming out of a base. Had shown support at the 200dma.
The cloud-based employment management software company earns a highest possible IBD Composite Rating of 99, meaning its shares outperform 99% of all stocks in the market as measured by fundamental and technical factors.
Paycom stock popped nearly 7% Thursday morning, clearing a 41.68 buy point from a price consolidation base and hitting a new all-time high. Volume was heavy.
Though the stock has pared some of its gains, the relative strength line is hitting new high ground, which is a bullish sign that confirms the move. Paycom closed up 3.7% at 41.87
I have been long, glad to see some big boys join in.
I don’t think this article requires a free login, but it might.