OKTA trade ideas
OKTA Bounce, False breakoutOKTA i believe is already too extended on its daily chart. It's already on its 5th consecutive day up, it has now pierced the bollinger band, and is overbought on stochastics. I don't think it will have enough steam to warrant a true breakout here, it'll be a bull trap leading back down to the moving averages to find support before it can truly continue upward
Okta Inc On breakout alert
Alert set for break above $143, possibly good long entry
RSi has room to run higher
MACD and Histogram Bullish
Strong fundamentals
OKTA INC $OKTA#OKTA is very close to the top. It may struggle to break out. Watch for both #rsi and #volume
OKTA 200 SMA BounceOKTA will head back to the levels it just came from. It's already met the 50 sma on the weekly and is about to run into the 200 sma on the daily. Target 110-112
$OKTA rises afterhours on Revenue Beat Okta (NASDAQ:OKTA) +3.1% reports Q4 beats with mixed guidance for Q1 and FY21.
The Q1 outlook has revenue of $171-173M (consensus: $166.2M), loss per share of $0.24-0.23 (consensus: $0.14 loss), and an operating loss of $33.2-32.2M.
For FY21, Okta sees $770-780M in revenue (consensus: $760.8M), loss per share of $0.42-0.37 (consensus: $0.28 loss), and operating loss of $65-57M.
Subscription revenue totaled $158.5M, up 46% Y/Y.
Remaining performance obligations grew 66^ to $1.21B.
Calculated billings were up 42% to $225M.
Cash from operations came in at $24.8M with FCF of $18.1M.
Adjusted operating margin was -3.3% compared to the -4.3% in last year's quarter.
R&D expenses grew 44% Y/Y to $43.4M.
Source Seeking Alpha
Okta next moves, shorting here Okta had a nice bullish engulfing candle close Friday late. I believe this is a bounce into resistance and is currently in distribution. Potential next moves laid out in Wyckoff schematic. Short position here and looking for price to move below 200 MA. Bloody Monday.
$OKTA on the breakout watchlists
Possible entry level above $140
Upside target to Fibonacci resistance @ $160
If top of channel is hit sooner, pullback expected
Okta short term trade setup
Possible long entry $132.60
Target price $142.00 to previous high.
Stop loss $129.00
Trading the channel.
RSI in bullish reversal of trend-line support.
MACd reversing bullishly.
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Got my eyes on this oneWas waiting on breakout today and it didn't happen, keep on watch for the next few days for breakout
Another run after 4th quarter dullRepeat performance? With the iran incidence, OKTA is poised for another run after another 4th quarter pull back.
$OKTA Testing Medium Term Trend LineI like $OKTA for my watch list. It's testing the lower bounds of a nice upward trend line (many ways to draw a trend line and it should be with a wide sharpie). If this can hold around this area and start showing strength I'd look to go long... Although, $FTNT is in this space and has a much better looking chart. Ideas, not trading advice.
OKTA trade setupEntry level above weekly resistance $119.18.
Target price below daily resistance $124
Stop loss $117.35
OKTA Put SpreadOKTA Put Spread Jan 17 Exp Spread is 115/110,
2.05 Cost, Max gain is $100, max loss is the same if it moves higher to 122, it looks to be moving into a deeper correction into support with ER being mediocre.
$3.05 exit price.
Delta risk is (0.45) Low odds by delta but it looks like a good trade.
