Short-Term Bullish Cross For VeriFone

On April 20, 2017, VeriFone Systems ( PAY ) crossed above its 150 daily moving average (DMA). Historically this has occurred 49 times and the stock does not always move up. It has a median gain of 4.104% and maximum gain of 33.911% over the next 10 trading days.

When we take a look at other technical indicators, the relative strength index ( RSI ) is at 43.0767. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is becoming neutral, but recently moved up and away from oversold territory.

The true strength index (TSI) is currently -24.5922. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is moving down.

The positive vortex indicator ( VI ) is at 0.6864 while the negative is at 1.2745. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock has been moving down. Its upward reversal is overdue and may actually have started.

The stochastic oscillator K value is 25.3573 and D value is 13.3096. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the price action is trending up. When the D value is higher that the K value, price action is trending down. The current reading declares the stock is on the verge is moving up and out of oversold territory.

Considering the moving average crossover, RSI , TSI, VI and stochastic levels, the overall direction appears to have just begun a reversal to the higher side. Based on historical movement compared to current levels and the current position in its trend channel, the stock could gain at least 1.24% over the next 6 trading days.
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