CHKP - Ascending Scallop With W PatternsThe scallop pattern is nearly finishing with price settling at the top of the pattern.
I expect a move upwards to conclude a W like structure that I have pasted with the bars pattern tool.
Similar W patterns can be seen in the past along the ascending scallop.
Chkp
CHKP. Perfect up-trending price action.If this doesn't work I will make me feel like an idiot.
I spent a lot longer on the scanner than usual trying to find a "perfect" setup, and I finally came across this picture perfect up trending action.
The chart as a whole is not great up trending overall, but this recent action is enough to fool me. This to me looks like the chart is saying buy buy buy. If that's not the case, I will need it taught out of me.
The red candle definitely is giving me hesitancy, but if we start to see some green closes I could be tempted to load the boat.
CHKP: Intermittent Dark Pool accumulation and Pro TradersCHKP is one of the few stocks that has breached its previous all-time high, corrected mildly and then resumed the uptrend to new higher highs. The stock has a mixture of retail traders, pro traders and mild Dark Pool accumulation at times. The momentum will stall intermittently with profit taking from professionals.
The Real Question - "Short Term Short" Or "A Long Break Down".Check Point Software Technologies Ltd (NASDAQ: CHKP) is certainly giving signs for Loss Of Momentum at the top as per TTC Breakdown Formation.
The Low of 115.14 is very critical for now to hold the breakdown. If price manages to sustain below this Critical TTC Zone , we can see a heavy selling in the markets.
For Short-term targets, Trader should eye on 112 Zone . Then 110 is the next support. For Swing Traders, 108 zone is Very Critical. Below which we can see a good amount of selling.
Check Point Software Technologies Ltd. is an Israeli multinational provider of software and combined hardware and software products for IT security, including network security, endpoint security, mobile security, data security and security management.
CHKP - Possible ShortWill be watching CHKP closely for a pullback, from March to July a Head and Shoulders pattern was formed. I will be watching to see if CHKP is in the process of forming another Head and Shoulder pattern. What are the odds it does it again?? Any way I will be watching it for a possible bearish trade.
$CHKP Thoughts Going Into Earnings On 1/28/16...Fundamentally this company is in rather good shape, just take a look at the balance sheet. We are all well-aware of the demand of IT security, it's now being openly discussed on television from the likes of people like our own president! I digress.
From a TA perspective, it did not break the bottom trend-line (Red Line) and I do not account the 'Flash Crash' of 8/24/15 because it is my personal opinion that to have been an HFT and Algorithm mishap, I digress once more.
With that being said, we have not even come close to combating the All Time Highs of $88.45. With a huge amount of Short Interest on the % of float, any good news can send this up.
-Zaibatsu