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.
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OKTA really catching my eye here, flagging on its 5-year chart- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones- Bullish and will be looking for a breakout
- EMA's curling
- Bollinger Bands squeezing on the weekly timeframe (See Chart Below)
- Slight bullish divergence on the RSI on shorter timeframes
...
OKTA is riding Daily RSI overbought status with RSI on 80, but is just underneath. It is not overbought on weekly of monthly RSI. Price is outside the top bollinger band with the SMA set on 80 which shows extreme buying pressure and probably overbought status. Price will return to the interior of the bands eventually.
Prior ugly top.
I placed the resistance...
Hello Traders, here is a full analysis for this asset. The entry will be taken only, if all rules of your trading plan are satisfied.
Therefore I suggest you keep this pair on your watchlist and see if all of your rules are satisfied.
Leave your thoughts in the comment section, I will reply to every single one of...
Lately coming up with ideas for companies to trade just based on random stuff I have learned through the years .
I published an idea on ABNB and missed my target bounce price .
What I failed to account for in my idea was the supply zone right below - moving forward to this chart I identified the same scenario with OKTA.
Again , I am going verify with tape...
Bullish Cup and Handle right before $250. I see OKTA breaking out before July 2. OKTA should be closing on a gap at $270.
They got their PT raised to $282.
OKTA has a double top in the 30min, and an RSI divergence as well. This indicate weakness, but it is true that OKTA can do something pretty nice, especially if it drops again to the 20ma.
Things could go wrong if it loses the 20ma in the 4h chart. But OKTA ia almost breaking the pivot at 231.81, and this will make it close...
High range swings with respect to supply/demand zones. Recently, reversed from Demand zone showing some strength.
Entry above 230 for a 280-290 level growth.
Okta, Inc. engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm's products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management. The company was founded by Todd McKinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA.
NASDAQ
