The PEAD projected a Bullish outlook for $OKTA after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 33.33%.
The day charts on growth stocks back during the last crash of March 2020 looked like a very similar pattern just before forming the golden cross that lead to their recovering and marking their bottom, coming off the death cross that began their crash from all time highs. Oktas earnings have stayed consistently outperforming according to the tip ranks data shown on...
Huge volatility for OKTA
Yesterday the price closed with almost 11% gain for the session and added 18% more in the after-hours session after the release of the earnings report.
The next major resistance is located between $ 116 and 122. If the breakout of the 2nd resistance is successful the price will be pushed to 0.382 Fibo level or $ 150
Risk Disclosure:...
Drawing Supply and Demand zones for OKTA. I love this product . It is the leader in Identity and Access management tools. It is still downtrend on Daily chart. Comments are welcome!
OKTA is already basing out with RSI holding support & now slightly up while prices fall, showing some divergence. Of course it may still fall a little with max pain at the 125 red zone but right now it recovered
50% of the potential consolidation box at 157 midpoint.
Watch carefully tomorrow the reaction at 157. If It bounces up, 191 will be the target TP level....
Trading lower in big supply zone and touch long term VWAP. Look for blowoff or resume over 13bar of buy countdown. Non good news:downgrade, sell insider and under attack of hacher..
Okta (OKTA) shares were down 8% in Wednesday trading after Raymond James downgraded the software company to market perform from strong buy.
Trading volume rose to 4.5 million shares,...
If you haven`t sold OKTA because of the bearish trendline it entered:
Then you should know that the falling wedge reached its target and is now ready to bounce back from the strong support.
My price target is $174.
Looking forward to read your opinion about it.
Easiest type of trade possible: upper channel near term target 168 by Apr 1
Motivating because industry/sector is heating up.
Not advice of financial type or whatevs.
OKTA is bearish from both fundamental and technical perspectives.
The falling wedge has a price target of $140 before a bounce and the company said billings rose 91% to $603 million vs. estimates of $497 million.
Since the earnings are negative, 266Mil in 2021 and the Market Cap is high, 28.418Bil, OKTA is still a growth stock from which investors have high...
OKTA got crushed trying to breakout of the narrowing range. And fell out of it. It may have finally found support around its March 30 2021 low. It closed Wednesday just at the 100% level($219.51) of this inverse extension. Friday it not only gapped up slightly while the rest of the market sold off it retested and held the $219.51 level and closed the day at...
Showing a symmetrical triangle here . Looks to be headed back to support at around 230..
from there I think okta would rally into earnings and possibly breakout..
If it does breakout this would send the stock into 320+.
Since IPO Okta has maintained it's growth and it has done that in phases. Looking at weekly chart it looks promising and consistent in 4 year long uptrend.
In 2021 it has mostly consolidated and absorbed last years growth and gearing up for next phase of growth.
Okta has earnings on Dec 1, be careful about position sizing. Try to avoid earnings volatility.
Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
If you enjoyed this analysis, I would definitely...
