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Check Point (CHKP) Continues to Surge After Bullish Breakout

Check Point had a critical break above $102.20 earlier in July and has not been looking back as it crossed $110 during the 7/17 session.

CHKP Daily Chart

(click to enlarge)

Bullish Breakout Extension:
- The daily chart shows a surge after the bullish breakout from a key resistance pivot as well as a falling trendline. 
- Price then pushed above the 200-day simple moving average (SMA). 
- We saw a couple of days where price held under $10, but without a bearish pullback, it ended with a bullish engulfing candle for the 7/17 session.
- This bullish engulfing candle suggests continuing upside. The $119.20 high from 2017 is in sight, with a strong prospect of higher highs.