Date: 10/05/2009
Symbol: CHKP
Company Profile: Check Point Software Technologies Ltd., together with its subsidiaries, develops, markets, and supports a range of software, and combined hardware and software products and services for information technology security worldwide.
Sector: Technology
Industry: Security Software & Services
TRADING PLAN
Entry price: above: 29.05
Stop price: under: 27.40
Target: 35 areas
Chart explanation: This week I will use CHKP for position and swing setup. Actually we can start with swing trade what can turn in to position trade. On the weekly chart we can see that CHKP have “own way” and don’t care about market weakness last week. Despite of that CHKP made new high on higher volume after triangle pattern was broken. I will look for continuation and stop will be under previous week low because if that will happen then odds for fake breakout will increase
If anyone have any question or need update feel contact me over email or in the live trading room.
Position Trade
Date: 10/05/2009
Symbol: NUAN
Company Profile: Check Point Software Technologies Ltd., together with its subsidiaries, develops, markets, and supports a range of software, and combined hardware and software products and services for information technology security worldwide.
Sector: Technology
Industry: Security Software & Services
Trading Strategy:
On the chart of the week column you can see that I’m using CHKP too. It is good example how I’m trying with smaller time frame get better risk/reward what is most important measure for me. Weekly chart is clear and it is explained there and on the quarterly chart we can see that CHKP broke from loooong consolidation and initial stop will be under $25, main resistance and now support area. Of course if weekly chart will work and prove last week breakout action we will move stop quickly.
I will send all updates and if anyone will have any questions feel free to contact me in the room or over email (ivica@ivicatradingcharts.com ).
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