OKTA Falling Wedge PatternIf you haven`t sold earlier:
Then you should know that OKTA is heading to the $132 support.
It should bounce from that strong support.
OKTA trade ideas
OKTA Falling Wedge and Losses Exceeding ExpectationsOKTA 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.
OKTA headed for a retest of the range?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 $222.69. I’m looking for OKTA to push back up to test the $230.80 level and beyond to try breaking back into this triangle. If it can do that I will follow these levels up to try for another breakout.
Okta Triangle . Short then go longShowing 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+.
Long $OKTA - Ready for next leg upSince 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.
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.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button.
Thank you for watching and I will see you tomorrow!
OKTA ready to runOKTA might be a good swing candidate, been consolidating for 4 months in $30 range. Might finally break and go for it.
Flagging on its 5-Year- BullishOKTA 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
PT1- $264.79
PT2- $267.89
PT3- $271.76
PT4- $274.67
$OKTA weekly chart. OKTA holding the trendline$OKTA weekly chart. OKTA held where it needed to on the trendline.
Rectangle Symmetrical Triangle ABC Bullish Double BottomOKTA 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 level on the chart that corresponds to the rectangle. There are other levels of resistance noted.
Golden cross looming. Many describe a golden cross (bullish moving average crossover) as a cross of the 50 SMA up and through the 200 SMA. It is very close to a crossover here. The 50 has already crossed through the 100. The 20, 50 and 100 SMA are tangling which is often considered bullish. There are bearish Ws which seem to have corrected and last formation in the ABC bullish pattern was a bullish crooked M. (second peak being higher than the first in this M)
Price has been in a large rectangle with the bottom trendline being support and the top one being resistance. Price would need to break the top trendline of the rectangle to meet targets 2. Price also broke up from a symmetrical triangle. Symmetrical triangles are neutral until a trendline is broken with a trend in that direction.
Lots of green right now with 2 small gaps under price. Gaps can serve as a source of support.
Last candle is a doji, a candle of indecision. Lots point to a pull back of some sort, but you just never know. Lots of green candles representing buyers, but buyers do become sellers )o:
No recommendation.
Very busy bullish chart that is slap full of bullish patterns and crossovers of moving averages.
Sometimes it is best to hold your horses and let them drink some water and wait for a good long entry level.
OKTA weekly curve breakoutGo long at the. weekly curve breakout, very explosive patter here i suggest shares or 2023 leaps
OKTA weekly curve breakoutGo long okta, weekly curve breakout could be explosive. Grandpa style long
OKTA go longGo long OKTA at the 300MA, grandpa style breakout. Reminds me of aapl before it broke out
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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$OKTA short - technical setup Fib 0.618 rejection
Rising Trendline rejection
Short around or buy PUTs in 248$-252$ range
Target1 - 231$
Target2 - 219$
OKTA reversal, potential 280-290 levelHigh 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 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.
Cup and Handle on the 30Min 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.
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!
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See you soon,
Melissa.
