OKTA DailyLooking at Okta, earnings reported in June sold-off, leaving a massive gap. Has been accumulating in this range for some time. If the market doesn't sell off, it looks interesting.
OKTA trade ideas
OKTAEVERY CANDLE HAS LIQUIDITY.
PRICE ALWAYS NEED LIQUIDITY.
Nobody Knows Where is Price Going.
Hey traders, here is the analysi.
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DISCLAIMER- This is not financial advice.
SMART MONEY CONCEPT.
identify Liquidity Or Become Liquidity
OKTA - Small Rise Before The FallOKTA - had a bad crash due to bad year-over-year earnings report despite crushing expectations.
Wave count suggests it was due, expanded flat setup, even with a good earnings report, very likely it would've rejected the 93.50 mark on the first attempt.
We're looking for a strong pullback followed by a lot more down-turn, towards the 1.272 expanded flat range of $60-$58 a share. VERY BULLISH AFTER THIS.
OKTA :Financial Position and Market PerformanceNASDAQ:OKTA
In light of rising cloud services and cybersecurity demands, Okta Inc. (OKTA) has reported robust revenue growth in its recent financial statements. Despite the apparent growth, pressures and anticipations in the market have recently weighed on the company's stock.
Over the past 12 months, OKTA has reported an earnings per share (EPS) of -4.29 USD, despite a revenue per share of 12.15 USD. This suggests that while the company is currently experiencing losses, the positive operating cash flow per share of 1.22 USD and a free cash flow per share of 1.10 USD highlight a healthy cash reserve post-operations and investments.
However, OKTA’s high Price-to-Earnings (P/E) ratio of -16.74, Price-to-Sales (P/S) ratio of 5.94, and Price-to-Book (P/B) ratio of 2.09 suggest an elevated market valuation. On a positive note, OKTA’s Price-to-Operating-Cash-Flow (P/OCF) ratio of 59.00 and Price-to-Free-Cash-Flow (P/FCF) ratio of 65.81 demonstrate the company's robust cash generation capacity.
In terms of ESG ratings, OKTA scores moderately across environmental, social, and governance dimensions, with an overall ESG score of 59.
Despite surpassing revenue and earnings expectations in Q1 and an upward revision of the full-year sales growth forecast from 16-17% to 17-18%, the company's stock fell 15% over the past week, triggered by the CEO's warning and market pressures. This may be due to an overly optimistic market expectation not met by the strong, yet insufficient financial report.
However, in the long run, demand for OKTA's identity management services and cybersecurity products remain strong. With the company progressively overcoming efficiency challenges impacting profits, improved performance can be anticipated. Therefore, while the stock may fluctuate in the short term, long-term investors may see the realization of its potential.
In conclusion, despite current short-term market pressures, OKTA shows a strong growth potential fundamentally. When considering investing, investors should take into account the company's financial condition, market performance, and future growth expectations.
Technical Analysis:
From the daily chart, the overall trend remains within a steady upward channel. We should pay close attention to the 61.8% Fibonacci support level. If the price gets support on the daily chart, the rebound force can break through the resistance level at 90, allowing us to continue holding. However, if the short-term price breaks through the channel support, the market might continue to bear pressure. The current price support is critical. The RSI indicator suggests a higher likelihood of rebound, but the MACD shows an ongoing bearish crossover signal with increasing selling volume. If you have already held positions, you can monitor the support situation around $70 in the short term. If you haven't entered the market, wait for a clear channel support signal before entering.
okta options ideared line = sell break
blue line = buy break
sl's are the sell/buy depending which direction you take.
tp's are the options contract you can take
Okta to break higher?OKTA - 30d - We look to Buy a break of 88.08 (stop at 80.89)
The sequence for trading is higher highs and lows.
Daily signals are bullish.
A break of the recent high at 87.88 should result in a further move higher.
Our outlook is bullish.
This stock has seen good sales growth.
Our profit targets will be 105.48 and 108.48
Resistance: 82.50 / 86.50 / 87.90
Support: 79.50 / 76.00 / 74.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Strong Revenue Growth, Outstanding Execution!Morning*'s valuation implies 2024 EV/Sales multiple of 5.5x.
Forecasted Revenue growth 24% annualized rate over next five years!
TTM Rev Growth YoY was 43%; 206% above sector median! Rev FWD growth is 26% or 142% above sector median.
Expected to become profitable on adjusted OpMargin basis next year and GAAP profitable in 2027 in line with current models as long as Okta continues to execute its growth strategy via investing in sales and research divisions.
The purple area target is my own personal target within time frame expected based on probabilities.
OKTA looking uglyOKTA is looking pretty ugly. Been relatively weak the last month and its not finding any buyers while its under the 200 MA. Trending down.
OKTA looking for higher levels.OKTA - 30d expiry - We look to Buy a break of 88.08 (stop at 80.89)
The sequence for trading is higher highs and lows.
Daily signals are bullish.
A break of the recent high at 87.88 should result in a further move higher.
Our outlook is bullish.
This stock has seen good sales growth.
Our profit targets will be 105.48 and 108.48
Resistance: 78.00 / 82.50 / 86.50
Support: 73.30 / 70.00 / 65.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Short OKTA $150OKTA looks bearish after confirming a downside after revisiting a wedge. I'm bearish until $150. It will need to break $200, a key yearly support to do this.
Okta posed to break higher?OKTA - 30d expiry - We look to Buy a break of 88.08 (stop at 80.89)
The sequence for trading is higher highs and lows.
Daily signals are bullish.
A break of the recent high at 87.88 should result in a further move higher.
Our outlook is bullish.
This stock has seen good sales growth.
Our profit targets will be 105.48 and 108.48
Resistance: 87.88 / 90.00 / 94.00
Support: 80.00 / 77.51 / 74.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
$OKTA: Trend is down...Nice setup here, daily signal just popped, can fall a long way from here if it works.
Best of luck!
Cheers,
Ivan Labrie.
OKTA longReally like this setup! Stuck in the middle of a huge earnings gap, which I think is going to fill. First target is $77-79 once we clear that it's going to fully fill the gap @90.10
BUY OKTA SWING A great swing set up here on OKTA.
Very strong accumulation happening should be a violent increase soon. Feb 10 $73 calls 15 contracts and a mixed long position. Looking for a break above $80.
Okta in a flag?OKTA - 30d expiry - We look to Buy a break of 74.31 (stop at 68.78)
Short term bias has turned negative.
A break of the recent high at 74.31 should result in a further move higher.
Short term momentum is bullish.
Price action looks to be forming a bullish flag/pennant.
The bias is to break to the upside.
Our profit targets will be 86.96 and 87.96
Resistance: 74.18 / 78.00 / 87.50
Support: 66.00 / 62.40 / 60.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
$OKTA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $OKTA after a Positive Under reaction following its earnings release placing the stock in drift A.
OKTA BULLISH SETUPThe asset has been on a major bearish swing and it has now gained great momentum around its $80 support aiming for a swing to the following targets.
OKTA: Oversold?OKTA
Short Term - We look to Buy at 73.79 (stop at 59.02)
The medium term bias remains bearish. Trading close to the psychological 72.00 level. Support could prove difficult to breakdown. A higher correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 109.67 and 120.00
Resistance: 110.00 / 139.00 / 200.00
Support: 72.00 / 50.00 / 30.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
$OKTA Inverted Cup and HandleER today 8/31 AMC, inverted cup and handle on the weekly chart could send it.
OKTA | SHORT | 24 Jul 2022IMO OKTA can trade below $100. if the market will go down my price target is about 90's
