0KB7 trade ideas
OKTAOKTA has set up a nice flag pattern. On this 2 hr chart it is within flag range, but on the daily its looking like it will breakout by tomorrow or the day after. Decided to enter a tad early as the cloud sector as a whole looks bullish and this ticker has the stronger setup within the sector. Looking for a quick move up of 4-5% which can happen within a day or two in this sector. At the 137-138 level it may be looking a little overextended so looking to take profits at this level.
OKTA - wait for it to be come down between 108-111, then buyOKTA has a strong chance to grow off of a strong support lvl of around 108 to 111. It's been tested for past few weeks.
From the Gann, it had crossed low 80's at 1/8, mid-80's at 1/4, low 90's at 1/3, then mid-90's at 1/2 and finally stable at 1/1 around 107. In the next phase, it jumped to 113 last week, could drop down to between 108-111, then next stop for Gann cutoffs could be around 120 for 3/1, then mid-120's for 4/1 and strong resistance at 130 for 8/1. Time to invest now, and sell later.
Btw, don't expect it to reach to 130 anytime soon, definitely not in 2-3 weeks. It could take quite a significant time. It needs more time to stabilize in the range of 105-120 to build a strong support there. Expect equal volumes buying/selling for sometime, then a lot of buying after quite some time.
$OKTA COULD DOUBLE IN 2 YEARS, LONG TERM HOLDThursday's earnings report by NASDAQ:OKTA was a blow out and the guidance was outstanding. Due to the market weakness on Friday the stock did not rally as much as it should have, within the coming days investors may get a better entry point into the stock, but if you are a long term investor and willing to hold this stock for 4/5 years , just buy it asap and you will be well rewarded. The company is aggressively tapping new markets and going after the biggest companies in the world as clients. Educational institution are to the forefront of the strategy also and is a huge market worldwide. One major strength is that their technology is so unique, they are sought to provide their service,trade disputes and political unrest does not hamper their growth or reduce the target market.
EARNINGS CALL HIGHLIGHTS
We kicked off fiscal year '20 with another strong quarter; total revenue grew 50%; subscription revenue grew 52%; calculated billings grew 53%; and we generated positive free cash flow of $13 million. We added 450 new customers in the quarter, bringing our total customer count to over 6,550. Once again, we made broad additions across our enterprise customer base with 53% growth in customers with annual contract value greater than $100,000.
For the second quarter, we expect total revenue of $130 million to $131 million, representing a growth rate of 37% to 38%; non-GAAP operating loss of $14.9 million to $13.9 million; non-GAAP net loss per share of $0.11 to $0.10, assuming shares outstanding of approximately 115 million.
For the full fiscal '20; we are raising our guidance and now expect total revenue of $543 million to $548 million, representing a growth rate of 36% to 37%; non-GAAP operation loss of $667 million to $62 million; non-GAAP net loss per share of $0.49 to $0.45, assuming shares outstanding of approximately $116 million.
AVERAGE ANALYSTS ESTIMATE $112
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Okta, Inc. provides an enterprise-grade identity management services. Its products include single sign-on, multi factor authentication, API access management, API products and integration network services.
OKTA longNASDAQ:OKTA
Looks like $100 is on the cards very soon.......this is why I added again at $90......avg around $50 now
OKTA - Breaking out all time new highsSymbol OKTA
setup cup and handle
Upcoming Earnings Jun 05, 2019 (EST)
Horizontal S&R: yes $87
Channel S&R: yes rising trendline
>20 & 50MA S&R: yes bounced 50ma but never really closed below it
>200MA: yes clear up trend
Volume confirmation: no yes
Candle Confirmation: yes yes. gapped down on earning and finished strong
Stoch Divergence: yes turning up
Reg Trendline >85: n/a
Short Float: 6% low float
Entry 91.8
Stop 87.15
Price Target 101.1
Risk / Reward: 1:2
Zacks Rank: 3-Hold 3 Style Scores: F Value | B Growth | F Momentum | F VGM Industry Rank: Bottom 16% (214 out of 256) Industry: Internet - Software and Services
Any feedback is welcomed.
OKTA: Not the same..better plays in COUPPosted my play in Twitter but posting this details here. Prices marked.
I have this:
OKTA Mar 15th -- 75 puts
also have this:
COUP Apr 18th -- 110 calls
gl
OKTA bullish momentum trade into earningsOKTA's trend is bullish and has been for quite sometime. OKTA grew its revenue by 60% last year (2018). That’s a head and shoulders above most loss-making companies, especially in the cloud space and SSO. And the share price has responded, gaining 126% in the last 12 months. OKTA has reacted bullish more than bearish on earnings historically.
Currently the market is holding a nice tight uptrend after making successive new ATHs. Based on the price action the last few weeks and few days, it appears OKTA would like to continue higher in the low to mid $90 region either before or post ER.
This is a high risk setup. However, price is making higher hows and higher lows as you would like to see in a bullish trade.
The trade is entering May $80 calls at $12.40 (stop-limit) with a stop loss of $10.40. Max loss of $200 per contract. The plan is to take profit before the ER if price reaches $92-$93 otherwise will considering holding over ER for the upper 1.618 fib target and higher. But first let's clear $88 ahead of earnings.
Let's see what happens this week :-).
The trend is strong on OSTKOSTK in a strong bullish trend and looks to continue upwards toward the $88 per share area.
I will be looking for a retest (pullback) in either of these green boxes to enter with some shares and/or options. Trade the trend until the trend reverses ;).
Cheers!
keep surging!the business is booming, the price just had a breakout, on track of a strong bull trend.
Okta (OKTA) stock flying high, but is it overbought?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 and has a market capitalization of $6.4 billion. The growth has been tremendous. Some analysts warn of high valuation but they are also ignoring the growth of data privacy industry. Data privacy and cybersecurity will become a $1 trillion industry in the next few years.
Revenue is expected to grow 40% to $84.82 million for the second quarter. The next quarter results will be released after market close on September 06, 2018.
www.finstead.com
OKTA trade Entered @ 52.41 on 8/3 at 11:25.
Price has stalled... probably should have taken the 2R profit. If it fails from here will most likely retest my entry level.
OKTA Short 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!
Equity Trend system went long in Okta #marketimpact @randholmQuant system Equity Trend starts to add long position in Okta, Inc.
