Watch for Check Point Software Technologies to Potentially Pullback After Gaining 1.34% Yesterday
Check Point Software Technologies (NASDAQ:CHKP) traded in a range yesterday that spanned from a low of $74.90 to a high of $76.06. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $75.70 on volume of 936,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Check Point Software Technologies share prices have been bracketed by a low of $65.09 and a high of $89.98 and are now at $75.94, 17% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Check Point Software Technologies on July 28th, 2016 by issuing a Downtrend alert when the shares were trading at $77.98. Since that call, shares of Check Point Software Technologies have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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