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Bearish Moving Average Cross by Check Point Software Technologies (CHKP)

By David Diaz

Check Point Software Technologies (NASDAQ:CHKP) shares have crossed bearishly below their 10-day moving average of $102.90 on a volume of 147K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Check Point Software Technologies share prices have moved between a 52-week high of $104.35 and a 52-week low of $65.09 and are now trading 58% above that low price at $102.59 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Check Point Software Technologies on October 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.44. Since that recommendation, shares of Check Point Software Technologies have risen 31.5%. We continue to monitor CHKP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses check point software technologies

Ticker(s): CHKP