Verifone Systems, Inc. designs, markets, and services electronic payment solutions worldwide. It provides countertop electronic payment systems that accept magnetic, smart card, contactless or radio frequency identification cards, and near field communication (NFC) payment options, as well as support credit, debit, check, EBT, and pre-paid products; an array of software applications and application libraries; and mobile solutions that support CDMA, GPRS, Bluetooth, and WiFi technologies. The company also offers products for consumer-facing functionality at the point of sale; contactless/NFC payment solutions consisting of contactless readers for consumer-facing transactions for indoor and outdoor payment system solutions; and integrated electronic payment systems that combine electronic payment processing, fuel dispensing, and ECR functions, as well as payment systems for integration. In addition, it provides server-based payment processing software and middleware; a line of payment hardware and software integration modules that enable self-service solutions; retail bank branch solutions; mass transportation solutions; network access solutions; and mobile retail software. F
Please take a look at the 6-month chart of PAY (Verifone Systems, Inc.) below with my added notations:
Back in February PAY took a massive drop from $32 down to $18. Since
that drop, the stock has shown a very clear trading pattern. First, you
can see the $22 resistance (blue) that PAY had been hitting for (2)
months. Outside of that level you will notice that $18, $20 and now $24
have also been areas of support and resistance (red). Bottom line is
that PAY is showing that it tends to react to each $2 increment.
The Tale of the Tape: PAY is currently trading
between its $22 and $24 levels. A long position could be entered on a
pullback to $22 with a stop set below the level of entry. If you were
looking for short trades on PAY instead, a break below $22 should
provide you with that opportunity.
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