OKTA Put Spread Jan 17 Exp Spread is 115/110,
2.05 Cost, Max gain is $100, max loss is the same if it moves higher to 122, it looks to be moving into a deeper correction into support with ER being mediocre.
$3.05 exit price.
Delta risk is (0.45) Low odds by delta but it looks like a good trade.
CIBR had a volume spike of 850,000+; which is 80% higher than usual, yesterday November 12th 2019.
The 50sma (yellow line) is bouncing back, trying to cross the 200sma (red line), and after it must cross 100sma (blue line) for it to continue being bullish.
10sma is short-term support - $29.3
All time highs is short-term resistance -...
As the market uncertainty is growing, and with the Fed meeting tomorrow Wednesday September 18th.
Investors rotated out of growth, to value stocks. But paying about $100 for OKTA shares might be an excellent option, with a RRR of 5:1.
OKTA has a strong chance to grow off of a strong support lvl of around 108 to 111. It's been tested for past few weeks.
From the Gann, it had crossed low 80's at 1/8, mid-80's at 1/4, low 90's at 1/3, then mid-90's at 1/2 and finally stable at 1/1 around 107. In the next phase, it jumped to 113 last week, could drop down to between 108-111, then next stop for...
OKTA's trend is bullish and has been for quite sometime. OKTA grew its revenue by 60% last year (2018). That’s a head and shoulders above most loss-making companies, especially in the cloud space and SSO. And the share price has responded, gaining 126% in the last 12 months. OKTA has reacted bullish more than bearish on earnings historically.
Currently the market...
NASDAQ:OKTA - Bullish bat formation but not before an extreme correction of the December 19, 2017 bull run.
Expecting it to bottom out at $29.19 around November 20, 2018.
If it breaks $58.8 the next seven (7) trading days, this entire analysis is shelved.
Just got into trading - please comment and provide any feedback for my assessment.
Thanks - happy trading!