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VeriFone Crosses Above its 10-day MA (PAY)

By Nick Russo

Today, shares of VeriFone (NYSE:PAY) have crossed bullishly above their 10-day moving average of $18.14 on a volume of 314K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

VeriFone share prices have moved between a 52-week high of $39.25 and a 52-week low of $16.99 and are now trading 8% above that low price at $18.35 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of VeriFone on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $27.65. Since that call, shares of VeriFone have fallen 34.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses VeriFone

Ticker(s): PAY