Check Point Software Technologies Ltd. Stock Forecast

CHKP Signals & Forecast

The Check Point Software Technologies Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $135.79 and $132.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 09, 2023, and so far it has risen 8.78%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, March 30, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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Support, Risk & Stop-loss for Check Point Software Technologies Ltd. stock

Check Point Software Technologies Ltd. finds support from accumulated volume at $132.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.39 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.47%.

Our recommended stop-loss: $132.46 (-3.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (CHKP) For The Upcoming Trading Day Of Thursday 21st

For the upcoming trading day on Thursday, 21st we expect Check Point Software Technologies Ltd. to open at $137.76, and during the day (based on 14 day Average True Range), to move between $135.38 and $139.54, which gives a possible trading interval of +/-$2.08 (+/-1.51%) up or down from last closing price. If Check Point Software Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $132.11, some $5.35 (3.89%) from the current price of $137.46, our system finds the risk reward attractive.

Is Check Point Software Technologies Ltd. stock A Buy?

Check Point Software Technologies Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

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