The 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.
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...
After a good earning report stock is consolidating in the range on the chart long/short entry level are on the chart targets are initial moves, momentum can take the stock further
CHKP 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 price is going down, the phase is changing from 2 to 3. RSI is going down to. Don't buy and sell.
This is my first forecast / first time publishing something here. It's a busy chart, but the explanation is there. If the forecast holds, then this will be a good short opportunity.
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 ...
Will 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.
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...