Cybersecurity $CHKP firm, Check Point Software $CHKP has been bullish since late 2018 pushing to fresh all time highs by February and continued to do so into April. However, I think the market is is pumping the brakes on this name.CHKP Daily Chart(click to enlarge)Bullish Market:- First of all, Check Point was bullish going into late 2017.- We can see that price was in consolidation mode by early 2018. - Still CHKP maintained a bullish stance as it made a higher high in September, and a higher low in December when compared to the key highs/lows from late 2017 and first half of 2018.Consolidation Ahead?- The rally from December (just below $100/share) has been sharp.- It even follows a conventional primary Elliott Wave count and structure.- However, the rally has become a bit more choppier since March, and has developed a bearish divergence with the RSI.- Today's price action was also very bearish, engulfing the recent price action. - This engulfing bearish candle suggests CHKP is now entering a period of consolidation.- What kind of consolidation will this be? - I think we can anticipate a push towards $120. This $119-$121 area was a previous resistance area and provides the first support.- The next key support will likely be around $114, where the 200-day simple moving average resides. - I think in the bullish outlook, we should expect price to hold above $108, but I don't think price will get there if the market is indeed bullish.- We should also monitor the RSI as it nears 40. If the market is going to maintain a bullish momentum and push into fresh highs, it would probably hold the RSI above 40. Otherwise, we might get a longer period of consolidation, where downside risk might grow.