PAYC: Sub (i) of 5 is close to completion. Expect a sub (ii)

Short

Paycom Software, Inc. (NYSE:PAYC)

Updated

NYSE:PAYC Paycom Software, Inc.

Wave Analysis

waveanalysis

Correction at Fib 61.8%

Comment:

PAYC was admitted to the SPX500 index and got a pop as a result. That created a possible island reversal signal which coupled with the SM wave 4 selloff could be a good short opportunity.

snapshot

Comment:

Bearish engulfing. Also, after close, PAYC dropped another 5% because analysts do not like their guidance.

snapshot

Comment:

snapshot

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