Check Point Software $CHKP Technical Pivots with Risk Controls

October 12, 2023, 11:15 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CHKP

• Buy CHKP slightly over 131.34 target 138.01 stop loss @ 130.96 Details

The technical summary data tells us to buy CHKP near 131.34 with an upside target of 138.01. This data also tells us to set a stop loss @ 130.96 to protect against excessive loss in case the stock begins to move against the trade. 131.34 is the first level of support below 133.88 , and by rule, any test of support is a buy signal. In this case, support 131.34 is being tested, a buy signal would exist.

• Short CHKP slightly under 138.01, target 131.34, stop loss @ 138.41 Details

The technical summary data is suggesting a short of CHKP as it gets near 138.01 with a downside target of 131.34. We should have a stop loss in place at 138.41though. 138.01 is the first level of resistance above 133.88, and by rule, any test of resistance is a short signal. In this case, if resistance 138.01 is being tested, a short signal would exist.

Swing Trading Plans for CHKP

• Buy CHKP slightly over 136.45, target 138.01, Stop Loss @ 136.06 Details

If 136.45 begins to break higher, the technical summary data tells us to buy CHKP just slightly over 136.45, with an upside target of 138.01. The data also tells us to set a stop loss @ 136.06 in case the stock turns against the trade. 136.45 is the first level of resistance above 133.88, and by rule, any break above resistance is a buy signal. In this case, 136.45, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CHKP slightly near 136.45, target 133.85, Stop Loss @ 136.84. Details

The technical summary data is suggesting a short of CHKP if it tests 136.45 with a downside target of 133.85. We should have a stop loss in place at 136.84 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 136.45, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CHKP

• Buy CHKP slightly over 134.70, target 136.45, Stop Loss @ 134.39 Details

If 134.70 begins to break higher, the technical summary data tells us to buy CHKP just slightly over 134.70, with an upside target of 136.45. The data also tells us to set a stop loss @ 134.39 in case the stock turns against the trade. 134.70 is the first level of resistance above 133.88, and by rule, any break above resistance is a buy signal. In this case, 134.70, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CHKP slightly near 134.70, target 133.85, Stop Loss @ 135.01. Details

The technical summary data is suggesting a short of CHKP if it tests 134.70 with a downside target of 133.85. We should have a stop loss in place at 135.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 134.70, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Check Point Software (CHKP) available here: CHKP.

CHKP Ratings for October 12:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Neutral
P1	0	0	124.58
P2	134.70	133.85	131.34
P3	136.90	136.45	138.01

AI Generated Signals for CHKP

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The technical pivots for Check Point Software (NASDAQ: CHKP) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CHKP change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CHKP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CHKP too.  All of these are offered below the Summary Table.