FRI 6/6: CHKP – Shares Resume Bullish Action After Recent Test of the 50 DMA

1:48 PM – A day after the 1st SELL SIGNAL was called, shares pulled back sharply but found solid support at the converging 50 DMA and round-$220 level. They then quickly reclaimed the 10 DMA in a bullish fashion, reaffirming strength. The stock is now back in a healthy uptrend, with the 10 DMA closely in tow.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.