Paycom Software ( PAYC) is a cloud-based software firm that handles payroll and HR functions. The stock price was down more than 6% Monday, so let's check to see if there might be more weakness ahead. 
In this daily bar chart of PAYC, below, we can see that prices are down sharply Monday and have fallen back below the 50-day and the 200-day moving average lines. The daily On-Balance-Volume (OBV) line has been in a decline since the middle of August and tells me that sellers of PAYC have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is just below the zero line - close but still not a buy signal.
In this weekly Japanese candlestick chart of PAYC, below, we can see a number of upper shadows over the past two months telling us that traders are rejecting the highs. Prices are back below the 40-week moving average line.
The weekly OBV line has lost ground the past year. The MACD oscillator is bearish.
In this daily Point and Figure chart of PAYC, below, we can see a downside price target in the $265 area.
In this weekly Point and Figure chart of PAYC, below, we can see the same $265 price target as the daily chart above.
Bottom line strategy: Avoid the long side of PAYC - a better buying opportunity should present itself in the first quarter of 2023.
