Verifone Systems Inc (PAY +$0.39 or +1.59% to $24.91) hit another new 52-week high today and its color code was changed to green after inching above its "max buy" level. It blasted higher on 8/25/10 following better than expected results and was noted in that day's mid-day report (read here) while then rising from a cup-with-handle base. The downward turn in annual earnings (A criteria, see red circle) is a concern, yet its recent bullish action and accelerating sales revenues growth in recent quarterly comparisons are reassuring signs it has overcome the previous setback.

Its prior appearance in this FSU section was a follow-up story published on 12/18/08 with an annotated graph under the headline "Patience Did Not Pay; Fundamental Flaws Prompted Technical Gap Down" that illustrated its decline after it had earlier been dropped from the Featured Stocks page. It was noted in the 8/25/10 mid-day report - "Long ago, based on disappointing fundamental news and very weak technical action, it was dropped from the Featured Stocks list on 12/3/2007 as it gapped down for a considerable loss after the company said it would restate its earnings for the past three quarters, with the added warning that revelations of deeper problems may follow. It has rebounded impressively and is now clear of overhead supply after a powerful technical breakout with 6 times average volume, however the M criteria is now arguing against new buying efforts until a new follow-through day occurs from at least one of the major averages."