OKTA Falling Wedge and Losses Exceeding Expectations
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 expectations.
When investors see weaker forecasts or expenses increase, on rising interest rates, they are tempted to sell.
In this case, my price target is the $140 support.
Looking forward to read your opinion about it.
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 expectations.
When investors see weaker forecasts or expenses increase, on rising interest rates, they are tempted to sell.
In this case, my price target is the $140 support.
Looking forward to read your opinion about it.
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RESULTS bit.ly/topgx
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BYBIT partner.bybit.com/b/37880
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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