samtabari
Long

Reverse Head & Sholders in Verifone $PAY

NYSE:PAY   VERIFONE SYS INC
A clear reverse head and shoulders formation in Verifone after a solid earnings beat yesterday. I'm keeping a tight stop loss at 32.66 and looking for the stock to reach the 'neckline' which gives it about 13% upside. The risk/reward ratio is very appealing at approx. 5. There's also a bullish break above the 30 level for the stochastic oscillator. This indicates a pick up in momentum.
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