As part of the Simple Approach series of posts I bring you the MACD Sell signal starring $PAYX. Let’s get straight to a Daily chart showing the prior 4 Sell signals as well as the one developing right now (post-earnings):
It appears that when looking at the prior 200 days of trading, it has been a quality short entry anytime that the MACD got above the 0.3 reading. It is once again there so it will be interesting to see if history rhymes after this post-earnings up move in price.
Enjoy the long weekend.