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VeriFone Set to Possibly Rebound After Yesterday's Selloff of 1.31%

By Amy Schwartz

VeriFone (NYSE:PAY) traded in a range yesterday that spanned from a low of $15.40 to a high of $15.56. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $15.47 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, VeriFone share prices have been bracketed by a current low of $15.40 and a high of $39.25 and are now at $15.45. The 200-day and 50-day moving averages have moved 0.41% lower and 1.22% higher over the past week, respectively.

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 43.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders VeriFone

Ticker(s): PAY