Check Point $CHKP has been in a choppy correction since making a higher on the year around $121 in September 2018. CHKP Daily Chart(click to enlarge)Resistance Shows Bears are in Charge:- The daily chart below shows us that price fell below the 200-day simple moving average, came back up across it but is immediately pulled back below the 200-day SMA. - Also note that a projected falling trendline acted as resistance. - Finally, the RSI is still holding under 60.- The price action under $110 also showed that there was strong selling here last week.- These are signs that bears are still in charge.Downside:- If price can break back below $103.50, a recent support/resistance pivot, it is probably going to continue to test the December 2018 low around $98.60.- I would prepare for the prospect of a lower low towards the $93-$95 area, which has been a common support area as we can see on the weekly chart below.CHKP Weekly Chart(click to enlarge)