First post here so bear with me.
OKTA (in hot S-A-A-S sector) has support at 48 at multiple times. Stochastic oscillator (on 5-day and normal 14-day) is oversold. Placed limit order at 48.05 and got filled.
Target here is in 53-54 range or until stochastic overbought. 53-54 is in range of 13-day EMA in the week or so past earnings date.
Stop loss at $46.
There may be resistance at 13-day EMA at $51.10 or so. If it breaks through, then 53-54 is good possibility. Hopefully this trade makes 10%.
Good luck out there.
OKTA (in hot S-A-A-S sector) has support at 48 at multiple times. Stochastic oscillator (on 5-day and normal 14-day) is oversold. Placed limit order at 48.05 and got filled.
Target here is in 53-54 range or until stochastic overbought. 53-54 is in range of 13-day EMA in the week or so past earnings date.
Stop loss at $46.
There may be resistance at 13-day EMA at $51.10 or so. If it breaks through, then 53-54 is good possibility. Hopefully this trade makes 10%.
Good luck out there.
Comment:
Got a close slightly above 13-day EMA. Hopefully this provides some support.
Trade closed manually:
Closed the trade early and called it a week. There's some jitters in the market, so I took a profit here. Sold at roughly $52.50.
$52.50 - $48.00 = $4.50 / $52.50 = 8.6% return roughly in 8 calendar days. Annualized, this is pretty good.
Good luck out there!
$52.50 - $48.00 = $4.50 / $52.50 = 8.6% return roughly in 8 calendar days. Annualized, this is pretty good.
Good luck out there!