Paylocity Holding (PCTY) was upgraded today by TheStreet.com's quantitative service and that got me to look at the charts and indicators for this cloud-based provider of payroll and human capital management software solutions.
In this daily bar chart of PCTY, below, I can see that prices have been strong since retesting its January low in February. Prices are above the rising 50-day simple moving average line as well as the bullish longer-term 200-day line. The On-Balance-Volume (OBV) line has been rising since December and is signaling that buyers of PCTY have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator recently turned down with a take profits sell signal but it has been above the zero line for most of the time since February.
In this weekly bar chart of PCTY, below, we can see that prices are above the rising 40-week moving average line. Also, we can see that the price strength last month pushed PCTY over its 2016 and 2017 highs. The weekly OBV line has been strong since late December 2016 and goes a long way to confirm the price gains this year. The weekly MACD oscillator is in a bullish mode -- pointed up and above the zero line.
In this Point and Figure chart of PCTY, below, we can see a breakout at $50 and a rally to $53 before a pullback. The move above $50 opened the way to potential gains in the $61 area.
Bottom line -- traders who like to combine quantitative signals with good charts could look to go long PCTY around $50 risking below $44 and targeting $61.