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VeriFone Crosses Above its 10-day MA (PAY)

By Amy Schwartz

VeriFone (NYSE:PAY) shares have crossed bullishly above their 10-day moving average of $27.27 on a volume of 321K 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.

In the past 52 weeks, shares of VeriFone have traded between a low of $26.05 and a high of $39.25 and are now at $27.88, which is 7% above that low price. The 200-day and 50-day moving averages have moved 0.35% lower and 1.37% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of VeriFone on June 15th, 2015 by issuing a Downtrend alert when the shares were trading at $36.25. Since that call, shares of VeriFone have fallen 25.8%. 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