Okta, Inc.Long
$OKTA - Huge Consolidation
OKTA Daily:Currently rangebound with no clear direction. I'm anticipating two scenarios with respect to the 200 DMA:
1. Base on the 200 DMA, consolidate, then trend up around ER at February end.
2. Drop below 200 DMA, but rebound from range bottom. This coincides with potential market weakness in February.
In both cases, I expect OKTA to test range top, with ER potentially triggering an explosive move.
Bullish thesis: For the full year of 2024, Okta expects to make about $2.24 billion, which is a 21% increase from last year. I expect continued improvements in other financial metrics such as non-GAAP operating income, net income, as well as cash flow measures.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.