Nov. 10 at 11:59 AM
$CHKP – Watching for Mid-Term Expansion Move 📈
CHKP has respected the lower grey support band for several months, while higher lows began forming just above multi-year support lines (cyan). The breakout above the most recent short-term resistance now opens the door to a potential mid-term expansion move. The ATR is beginning to rise again, and stochastic has just crossed up from the lower zone. If this momentum continues, we may see a 25 to 30 percent move toward the upper resistance channel.
I am going in here and scaling into a long position, looking for mid 200s (230 to 260) as a potential target zone.
