Okta Analysis 18.11.2021Hello 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.
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Thank you for watching and I will see you tomorrow!
OKTA
OKTA ANALYSIS 11.08.2021Hello 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 them.
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OKTA INTRADAY Scalp off of supportLately 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 before taking on this trade but if it holds support and there isn’t heavy selling I expect to run significantly ,
my style is mainly scalping whether it be intraday or swings .
I post these charts so people can add to the idea or verify what I’m seeing .
Im a discretionary trader and most of my entries and exits are based on reading the tape and waiting for a bounce.
I will usually scalp into a position then hold runners if my idea is verified then move onto another similar setup .
Thanks for lookin.
This might work on OKTA! 👍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 the gap at 245.
We see no RSI confirmation, but at least, no divergence too. This makes OKTA interesting, but let’s be careful, because it can drop in the 30min chart!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Okta LONGHi i will be posting more ideas on crypto and stocks so follow, like, comment whatever you like :)
This idea is for #okta
Im longing from here, DCA (Dollar cost average) if you can get in near the orange line even better.
If it goes lower DCA more and hold for long term (I swing trade but this stock is good to hold mid/long term)
One of the stocks fool also recommends for long term.
Entry $220 or now if you dont want to wait (downside potential at current price)
Better Entry to DCA if it hits that price based on weekly timeframe =$180-200 however $210 has shown to be good support
Keep in mind this is a tech stock so use caution because rotations are happening is tech sector has been correcting.
Targets: $245, $290, 330
Long Term Target = +$400
OKTA is being used by plenty of employers and with covid this company became useful for employers and employees! Great tech overall.
Cyber Security has become essential for all"Because of the rise of remote working, cyberattacks have grown exponentially in recent months, with the FBI reporting a 400% increase in complaints in April versus March, as attackers hope to expose weaknesses in an organization's business continuity strategy"
Fundamental difference between some of the biggest cyber-security companies:
CrowdStrike's (CRWD) endpoint protection uses resource-friendly security agents to inform its crowdsourced cloud about any potential threat anomalies. All customers are protected based on a single threat found, and its technology is supported by having renowned threat remediation and hunting capabilities.
OKTA disrupted the identity access and management market with its cloud-based technology that has a large number of application integrations that make controlling who has access to what much simpler for security teams. In a perimeterless security world, the importance of identity is becoming paramount.
Zscaler's (ZS) secure web gateways delivered via its cloud locations provide customers a safe route to cloudbased resources. Branch and remote users can go directly to their applications instead of going through a centralized data center, decreasing lag for the end user and alleviating traffic bottlenecks for IT teams.
Palo Alto Networks (PANW) is an attractive option for investors. In our view, its cloud transition springboarding growth off its firewall leadership, upselling and cross-selling prospects via its security platform, and strong cash flow and balance sheet are being overlooked for the pure cloud-based companies.
$OKTA Support Breakdown$OKTA Support Breakdown
Big down day today on strong volume breaking through support at $205 as well as at the 20d ema around $204.
Expecting some kind of bounce back tomorrow. Watching for rejection around $204-$205 followed by further declines near term.
Near term target: $180-$190 range
Cybersecurity massive volume!On a minute chart, there was a buy trade for 266,069 shares; creating the biggest volume spike in this ETF's short history. (check volume candles on chart).
As we see the volume spike on a specific minute (10:48am ET), we can assume the trade was made by probably 1 institution/person. This means this individual created a position of 5 million dollars with a single trade into BUG.
10sma towards the $19 range shows short-term support.
Top-10 Portfolio holdings by weight:
OKTA (8.4%)
FTNT (8%)
ZS (6.93%)
Trend Micro Inc (6.09%)
CHKP (5.69%)
NLOK (5.63%)
QLYS (5.61%)
PANW (5.23%)
AVST (4.89%)
PFPT (4.79%)
Total % weight: 61.26%
OKTA Analysis We continue to make higher highs and higher lows inside the bullish channel (ER run up). Expect a small pullback to the 14EMA/PivotPoint at 187.77. Long Wick rejections of this level will give us a good long entry setup with a price target of 199.96.
Options Trade: 5/29 200c after confirmation of bullish continuation
Fortinet - Flag on 10smaSoftware companies have really enjoyed the rally year-to-date.
Fortinet shocked the market with a triple play in earnings, which resulted in a jump to start the "All-time-high Run"
TWLO, SHOP, OKTA, TTD are some examples of stocks with very similar moves, indicating oversold territory in the RSI can stay oversold for longer than you might expect. Also, the 10-day-moving average has been very indicative in these charts.
As long as we continue to hold the 10sma, the trend remains bullish.