Check Point Software Technologies Ltd (CHKP): Price Now Near $119.1; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for CHKP

At the moment, CHKP (Get Ratings)’s price is down $-0.47 (-0.39%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

CHKP’s Technical Outlook on the Daily Chart

Currently, CHKP’s price is up $0.06 (0.05%) from the day prior. CHKP has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 100 day changed directions on CHKP; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows CHKP’s price action over the past 90 days.


For CHKP News Traders

Investors and traders in CHKP may be particularly interested in the following story that came out in the past day:

Is CHKP Stock A Buy or Sell?

Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts usually don’t make them change their opinion towards a company. This time it may be different. The coronavirus pandemic destroyed the high correlations among major industries and asset classes. We are […]

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