Paychex is another player who is due to report quarterly earnings tomorrow, but prior to market opening. It is expected to report an EPS of $0.97 on revenue of $1.22bn.

Paychex is another player who is due to report earnings tomorrow. Looking at the chart from a technical viewpoint, we can see that the price on the weekly timeframe has broken out of the descending triangle. Currently trading at around $111.09 a share. The base has been established along the horizontal trendline, or respectively at $104.09. A dip below this level could see a move lower towards the range of $95-$98. On the other hand, let’s take a look at the upside potential since a break has occurred. Resistance sits at $114.62 then at $117.43 and then at $120.92. A break and close above $120.92 may see the price climb even higher towards $126-$127 a share. Although, this is more likely in the mid-long term and could be influenced by the earnings report tomorrow. Over to the technical indicators, MACD is positive but RSI is still neutral as it reads 48.