0OK trade ideas
$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.
ATH testBeen all over this one. Im thinking OKTA can test ATH from here or make new ATH, buy time on calls may need to flag first.
OKTA can go till 137 if it holds current price of 126.05The current trend, Heiken Ashi, previous resistance indicate it can north bound to 137 if the price holds of 126.05
W Bottom in Okta Inc. BullishEntry level $125 = Target price $144 = Stop loss $120
Nice double bottom plating out and today's upgrade is great fuel to that move.
Todays upgrade
Okta pullback represents 'good entry point,' says DA Davidson. As reported earlier, DA Davidson analyst Andrew Nowinski upgraded Okta to Buy from Neutral and raised his price target on the shares to $135 from $131. Nowinski said that while shares have declined 24% since the end of July, he believes the pullback represents a "good entry point" to get into one of the top Software-as-a-Service growth stocks. The analyst added that he believes the stock is capable of generating over 30% growth for the next four-plus years, combined with a free cash flow margin of 20% or higher.
thefly.com
Short interest 9.48%
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 was founded by Todd McKinnon and J. Frederic Kerrest in 2009 and is headquartered in San Francisco, CA.
$OKTA Long above 118 targeting 125 Short below 113 targeting 100Good indicators setup for bullish continuous targeting 125 after passing 118 stoploss for longs at 114.5 if break recent support at 113 then became negative and targeting 106 - 100 . On larger scale remained short
