Check Point (CHKP) Downgrade Alert, Watch for 13.8% Technical Uptrend Reversal

Check Point (NASDAQ:CHKP) downgraded to Market Perform, $29 target, at FBR Capital. The stock closed yesterday at $27.38 on volume of 1,875,492 shares, below average daily volume of 2,577,924.

Check Point Software Technologies is currently above its 50-day moving average of $25.81 and above its 200-day moving average of $22.94.

SmarTrend is bullish on shares of CHKP and our subscribers received an Uptrend alert on July 16, 2009 at $24.07, which has returned 13.8% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: market, nasdaq, securities, software, technology