CHKP broke out of trendline resistance, RSI b/o, MACD crossed over zero line bullish, Vortex Indicator crossed over indicating possible trend reversal. Close up of price action on chart below. Resistance likely in 105 area, bottom of gap above at 110 area. Two possible options trades shown on chart, depending on taste and whether or not you want to play the ER,...
This is my first forecast / first time publishing something here. It's a busy chart, but the explanation is there. If the forecast holds, then this will be a good short opportunity.
Buy: 105.00 Target: 107.56 - 111.70 (2.44% - 6.38%) jbzstocks.com @jbzstocks
Check Point Software Technologies Ltd (NASDAQ: CHKP) is certainly giving signs for Loss Of Momentum at the top as per TTC Breakdown Formation. The Low of 115.14 is very critical for now to hold the breakdown. If price manages to sustain below this Critical TTC Zone , we can see a heavy selling in the markets. For Short-term targets, Trader should eye on ...
CHKP is at major resistance and inside a corrective structure. Looking for downside.
fundamentals must be good to be where it is
and bearish MACD. Fibo 1.618 102
Will be watching CHKP closely for a pullback, from March to July a Head and Shoulders pattern was formed. I will be watching to see if CHKP is in the process of forming another Head and Shoulder pattern. What are the odds it does it again?? Any way I will be watching it for a possible bearish trade.
CHKP reversing a bit after it gapped up into all time news highs following better than expected earnings. fibo levels .5 or .61 would be a decent level that I would consider to add to my exisiting position. expecting prices considerably above 100 if market stays strong. max stop remains pivot level
Short CHKP at present level or at its rally because it is well overbought.
ENTER 89.61 STOP 92.55 PROFIT 78.64
If this stock would break through the Level 87-90, a cyclical longterm buying-wave can be exspected. Target of this wave could be 110$ Trading below 75/71 will break the trend.