CHKP finds buyers at key support level


Check Point Software Technologies Ltd. (CHKP) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
CHKP finds buyers at key support level
CHKP closes lower for the 4th day in a row
CHKP falls to lowest close since April 27th
CHKP closes within previous day's range
CHKP ends the day indecisive
TQ Sentiment
Report Sentiment: 20% Bullish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, CHKP ended Thursday at 95.96 losing $0.44 (-0.46%). Today's closing price of 95.96 marks the lowest close since April 27th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CHKP
Volatility

Thursday's trading range was $1.66 (1.72%), that's slightly below last trading month's daily average range of $1.94. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 95.03 during the day, the market bounced off the key support level at 95.35. The failure to close below the support might increase that levels importance as support going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's low at 93.76, downside momentum could speed up should Check Point break out to new lows for the year.

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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