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Check Point Software Technologies Set to Possibly Pullback After Yesterday's Rally of 1.76%

By Nick Russo

Check Point Software Technologies (NASDAQ:CHKP) traded in a range yesterday that spanned from a low of $100.68 to a high of $103.25. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $102.24 on volume of 706,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 28.9%. We continue to monitor CHKP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Check Point Software Technologies have traded between a low of $65.09 and a high of $103.25 and are now at $103.12, which is 58% above that low price. The 200-day and 50-day moving averages have moved 0.10% higher and 0% lower over the past week, respectively.

Keywords: rebounders check point software technologies

Ticker(s): CHKP