CHKP fails to close above 100-day moving average


Check Point Software Technologies Ltd. (CHKP) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
CHKP unable to break through key resistance level
CHKP fails to close above 100-day moving average
CHKP finds buyers again around 102.15
CHKP rises to highest close since March 21st
CHKP stuck within tight trading range
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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.

Daily chart for CHKP
Volatility

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.

Support/Resistance

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.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Conclusion

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.
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

CHKP closes within prior day's range

Aug 14, 2018
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