Check Point Software Technologies Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Check Point Software Technologies Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 15, 2024)
The Check Point Software Technologies Ltd. stock price fell by -2.54% on the last day (Monday, 15th Apr 2024) from $161.73 to $157.63. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.98% from a day low at $157.57 to a day high of $162.27. The price has fallen in 8 of the last 10 days and is down by -4.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -158 thousand shares and in total, 566 thousand shares were bought and sold for approximately $89.21 million.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $158.03. A reaction back to this level may hold a second chance to get out before further falls.
CHKP Signals & Forecast
There are few to no technical positive signals at the moment. The Check Point Software Technologies Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $162.78 and $162.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -5.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Check Point Software Technologies Ltd. stock
Check Point Software Technologies Ltd. finds support from accumulated volume at $156.39 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 $4.69 between high and low, or 2.98%. For the last week the stock has had daily average volatility of 2.07%.
Check Point Software Technologies Ltd. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $150.31 (-4.65%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (CHKP) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Check Point Software Technologies Ltd. to open at $159.16, and during the day (based on 14 day Average True Range), to move between $154.76 and $160.50, which gives a possible trading interval of +/-$2.87 (+/-1.82%) 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 3.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $156.39 (0.79%) than the resistance at $160.80 (2.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Check Point Software Technologies Ltd. stock A Buy?
Check Point Software Technologies Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.954 Hold/Accumulate Upgraded
Predicted Opening Price for Check Point Software Technologies Ltd. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $159.16 ( 0.97%) | $157.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHKP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.85 | 3.95 % | |
| R2 | 162.06 | 2.81 % | ||
| R1 | 160.95 | 2.11 % | ||
| Current price: | 157.63 | |||
| Support | S1 | 157.36 | -0.170 % | |
| S2 | 156.25 | -0.87 % | ||
| S3 | 154.46 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.47 | 3.70 % | |
| R2 | 162.45 | 3.06 % | ||
| R1 | 160.80 | 2.01 % | ||
| Current price | 157.63 | |||
| Support | S1 | 156.39 | -0.787% | |
| S2 | 156.10 | -0.97% | ||
| S3 | 154.87 | -1.75% |
FAQ
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