Okta provides identity solutions for enterprises, small and medium businesses, universities, and government agencies. The Okta Identity Cloud enables customers to secure their users and connect them to technology from any place. Its clients include JetBlue, Experian, and flex to name a few.
The company which started in 2009 has grown from two to 1,300 employees ...
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!
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 ...
200ma on 1hr may offer support for bounce. Weekly candle is looking very bearish if cant move and close up past 53tmrw it will end the week with a bearish engulfing with ultra high volume. suggesting a top and possible move back to low 30s