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PAYC - Potential Bullish Pivot

Long
NYSE:PAYC   Paycom Software, Inc
What's going on traders? Hope you all had a Happy season. Today, we are looking at Paycom Software NYSE:PAYC and it looks as if it had a nice correction in price recently. The stock was trading at a recent high of $471.08 before dropping nearly 13% to 411.13. That area also lines up with previous resistance areas which could be acting as support now. Since then the stock has crossed above the lower Keltner channel (represented by the white dot on the chart) and might be resuming it's trend upward. We will continue to watch PAYC to see if it does move higher over the next few weeks.

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