CHKP breaks out on higher volume
CHKP reached a high in 2000 of $118.64 and then fell into decline. The move back up has been unsteady so not a great stock to trend trade over the longer-term. But since late October (which retested the 2012 pivot high) the momentum to the upside has become more linear.
With yesterday's bar being very bullish (on higher volume) the uptrend looks set to continue. A near-term trade may be an option but I would prefer to wait a little longer to see how the trend develops.
This may mean missing out until after the 2000 high is taken out. That's quite some distance away, but for a longer-term trade we want to see consistency so waiting to see what type of trend materialises from here is essential.
With yesterday's bar being very bullish (on higher volume) the uptrend looks set to continue. A near-term trade may be an option but I would prefer to wait a little longer to see how the trend develops.
This may mean missing out until after the 2000 high is taken out. That's quite some distance away, but for a longer-term trade we want to see consistency so waiting to see what type of trend materialises from here is essential.