CHKP fails to close above 100-day moving average
CHKP ended Monday at 102.94 gaining $0.39 (0.38%). Today's closing price of 102.94 marks the highest close since March 21st. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Monday's trading range was $1.90 (1.86%), that's slightly below last trading month's daily average range of $1.96. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 101.79 and 104.05 which it has been in now for the last three days.
Prices are trading close to a key support level at 101.51. Unable to break through the key technical resistance level at 102.97, Check Point closed below it after spiking as high as 104.05 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 101.98 in the prior session, the market found buyers again around the same price level today at 102.15. After spiking up to 104.05 during the day, the stock found resistance at the 100-day moving average at 103.11.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Check Point Software Technologies Ltd.
|Close to R1 Resistance||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Low close to previous two Lows||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
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