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 to Buy Candidate.
(Updated on Apr 18, 2024)
The Check Point Software Technologies Ltd. stock price gained 0.183% on the last trading day (Thursday, 18th Apr 2024), rising from $158.09 to $158.38. During the last trading day the stock fluctuated 2.38% from a day low at $156.92 to a day high of $160.66. The price has fallen in 6 of the last 10 days and is down by -2.68% for this period. Volume fell on the last day by -30 thousand shares and in total, 606 thousand shares were bought and sold for approximately $96.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $156.83 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Check Point Software Technologies Ltd. stock with a 90% probability to be traded between $159.74 and $170.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CHKP Signals & Forecast
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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $160.06 and $162.47. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.01%. 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.
Support, Risk & Stop-loss for Check Point Software Technologies Ltd. stock
Check Point Software Technologies Ltd. finds support from accumulated volume at $157.75 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 $3.74 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: $149.61 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CHKP) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Check Point Software Technologies Ltd. to open at $158.65, and during the day (based on 14 day Average True Range), to move between $155.54 and $161.22, which gives a possible trading interval of +/-$2.84 (+/-1.79%) 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 3.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $157.75 (0.40%) than the resistance at $160.80 (1.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Check Point Software Technologies Ltd. will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.01. We will update the financials statements for Check Point Software Technologies Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.82% in the first trading day after earnings release.
Is Check Point Software Technologies Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.381 Buy Candidate Upgraded
Predicted Opening Price for Check Point Software Technologies Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $158.65 ( 0.172%) | $158.38 |
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 | 162.39 | 2.53 % | |
| R2 | 160.96 | 1.63 % | ||
| R1 | 160.08 | 1.07 % | ||
| Current price: | 158.38 | |||
| Support | S1 | 157.22 | -0.729 % | |
| S2 | 156.34 | -1.29 % | ||
| S3 | 154.92 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.47 | 3.21 % | |
| R2 | 162.45 | 2.57 % | ||
| R1 | 160.80 | 1.53 % | ||
| Current price | 158.38 | |||
| Support | S1 | 157.75 | -0.398% | |
| S2 | 156.39 | -1.26% | ||
| S3 | 154.87 | -2.22% |
FAQ
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