OKTA watch this one closely for a surprise popWatching this gap fill as it slowly pulls back to 50DMA.
Build long slowly based on broader market condition, don’t jump all at once.
Long between 92-95-98
Stop loss - 90
Target#1 - 110
Target#2 - 125
0KB7 trade ideas
$OKTA PEG (Power Earnings Gap) CandidateNASDAQ:OKTA jumped over 22% at the open from earnings reported on February 29th. It had a wide range of trading that day and closed just under the open about midway through the candle. It has been digesting that big move on lower volume for sixteen “trading” days (3 weeks). I went long this yesterday on the break of the downtrend line (blue). It pulled back by the end of the day but has not triggered my stop which is under the low of March 19th (103.61). It is recovering today but it really needs to get up and over yesterday’s high before I would now consider it a breakout.
I do have a one-half size position and if it can get up and over 107.30, I plan to bring it up to a full-sized position. As mentioned above, I do have a stop in place just in case it continues to the downside.
The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Okta Surges on Stellar Earnings: Riding the Cloud Identity WaveOkta Inc. ( NASDAQ:OKTA ) catapulted 28% in after-hours trading following its impressive quarterly performance, surpassing analyst estimates and raising its full-year sales forecast. The cloud identity software company's robust growth, fueled by a surge in larger enterprise customers, underscores its pivotal role in modernizing identity infrastructure and simplifying organizational processes.
For the fiscal fourth quarter, Okta ( NASDAQ:OKTA ) reported a remarkable 19% revenue increase year-over-year, soaring to $605 million, outpacing analysts' expectations by a substantial margin. Adjusted earnings of 63 cents per share further solidified its position as a market leader, surpassing the consensus of 51 cents per share. Notably, Okta( NASDAQ:OKTA ) added 120 customers in the quarter with a minimum annual contract value of $100,000, reflecting strong demand and expanding market reach.
"We’re pleased with the strong top-line performance, driven by strength with large customers. Organizations continue to turn to Okta to help modernize and simplify their identity infrastructure," stated the company in its earnings report, highlighting the growing reliance on its solutions among enterprises seeking enhanced security and efficiency.
Looking ahead, Okta ( NASDAQ:OKTA ) provided an upbeat outlook, projecting current-quarter revenue between $603 million and $605 million, surpassing analyst estimates and indicating sustained momentum in its business operations. Additionally, the company raised its full-year revenue forecast to a range of $2.495 billion to $2.505 billion, demonstrating confidence in its ability to capitalize on market opportunities and drive sustained growth.
The impressive earnings report also signifies Okta's resilience in the face of challenges, notably a significant security breach last year. Despite this setback, the company's financial performance remains robust, indicating its ability to navigate adversity and emerge stronger.
Analyzing Okta's ( NASDAQ:OKTA ) share price on the weekly chart reveals a notable breakout amid earnings-driven momentum. However, potential overhead resistance zones at $108 and $145 merit close monitoring, representing key areas where the stock may encounter selling pressure based on historical price action.
As Okta ( NASDAQ:OKTA ) shares surged to $107.61 in after-hours trading, investors are buoyed by the company's stellar performance and optimistic outlook. With its strategic positioning in the rapidly evolving cloud identity market and a strong foundation of enterprise customers, Okta is poised to sustain its growth trajectory and redefine the future of identity management in the digital era.
OKTA: Confident Growth Amid Decreasing Short InterestOkta, Inc. (NASDAQ:OKTA) , a leading provider of cloud identity and access management services, attracts investors' attention with its potential for sustainable growth and a noticeable decrease in short interest volume. The reduction in short interest is a positive signal, indicating a decrease in pessimism among investors regarding the company's future prospects, which could be a harbinger of an increase in stock value.
Okta continues to demonstrate strong results, thanks to its innovative platform that provides secure and convenient access to applications and services for organizations of various sizes. In a context of growing demand for cybersecurity and identity management solutions, Okta strengthens its market position by expanding its product portfolio and entering new segments.
The decrease in short interest volume may indicate that investors are becoming more confident in the company's ability to overcome current challenges and realize its growth potential. It may also suggest anticipation of positive news or improvement in financial results, which could push the stock price up.
Additionally, Okta invests in expanding its global infrastructure and developing technological innovations, allowing the company to maintain a high level of competitiveness and meet changing market demands. These strategic initiatives, combined with improved market perception as reflected in the decrease in short interest, create a solid foundation for long-term growth in stock value.
For investors looking for opportunities in the technology sector with sustainable growth potential, OKTA shares represent an attractive option. The decrease in short interest, coupled with strong operational indicators and a strategic focus on innovations and expansion, offers positive prospects for long-term investors.
OKTA Stock Chart Fibonacci Analysis 021124Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 85/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
OKTA - 2x Potential OKTA has been in a tight range for a long time.
Got rejected many times at 92 level.
If this breaks and holds above 92 level, go long.
Long above 92
Stop loss - 80
Target #1 120 (30%)
Target #2 184 (96%)
and after some pullback
Target #3 220 (135%)
Above 130, this doesn't have much resistance until 220.
OKTAOkta, Inc. is an American identity and access management company based in San Francisco. It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, website web services and devices.
Strong price action within a consolidation range.
OKTA: Poised for Growth at Key Levels"?OKTA. is a leading identity and access management company that provides cloud software to help businesses manage and secure user authentication into modern applications, and for developers to build identity controls into applications, website web services, and devices. Founded in 2009, the company has been instrumental in pioneering identity solutions fit for a cloud-first, mobile-first world.
As of now, Okta's stock is at crucial levels, signaling a potential breakout or pivot. The company has been posting strong earnings over the last few quarters, indicating robust operational performance and growth prospects. This positive momentum sets the stage for today's earnings announcement, which is widely anticipated to be favorable.
In terms of stock targets, after surpassing the pivotal $74 mark, the next key levels to watch for are $77, followed by $79, and then $82. These target levels could serve as either resistance points or new support levels, depending on investor sentiment and market dynamics.
Investors and traders are keenly watching Okta, especially given its recent performance and today's crucial earnings release. With strong fundamentals and optimistic market sentiment, Okta appears well-positioned for potential upward movement.
$OKTA - Huge ConsolidationNASDAQ: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.
OKTAI think Okta presents a good RR for swing long here with SL under 65 and first target 90. I have added shares around 70 last week
OKTA Options Ahead of Earnings If you haven`t sold OKTA when Losses Exceeding Expectations:
Then analyzing the options chain and the chart patterns of OKTA prior to the earnings report this week,
I would consider purchasing the 72usd strike price Calls with
an expiration date of 2023-9-1,
for a premium of approximately $4.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
OKTA - High Long Potential - Minimalists AnalysisI'm absolutely NO fundamental analyst.
I literally have no good clue how to read the fundamentals like the Pro's are doing. And I don't plan to learn it in the near future.
BUT...
...I trust my common sense.
The Blue Box explains my common sense thinking and why I see OCTA as a potential buy for the long term.
What I know for sure are my TA skills.
And what I see there is, that price respects the L-MLH of the Andrews Pitchfork.
The Green Box shows the support range.
If you zoom closer you see the "Trigger" bar (green) which started the up-move.
The Blue Boxes are just for myself. I cut out the noise by splicing the inside bars and outside bars to one block. That makes the chart reading easier.
What else do we have in the TA arsenal?
The MACD and the Mansfield RS.
You probably know what the MACD projects.
The Mansfield Relative Strenght is not known very widely. Nonetheless it does it's job by measuring the evolution of OCTAs price compared to the SPX over an average of 52 periods by default.
So, bringing it all together:
If price don't drop below the Forks lower line (The L-MLH or Lower Medianline Parallel), AND both, MACD and Mansfield are positive AND the volume starts to rise furious, then my Gatling fires from all guns. §8-)
Wish you all a happy weekend.
RectangleEarnings 8-30 AMC.
Neutral pattern until broken.
Dark Cloud cover candle pattern right this second but the red candle is close to engulfing the prior green candle.
Short interest around 4%.
No recommendation.
52 Week Range
44.12
99.68
Day Range
71.71
74.17
EPS (FWD)
0.91
PE (FWD)
80.46
Div Rate (TTM)
-
Yield (TTM)
-
Short Interest
4.08%
Market Cap
$11.94B
Volume
797,333
OKTA DailyLooking at Okta, earnings reported in June sold-off, leaving a massive gap. Has been accumulating in this range for some time. If the market doesn't sell off, it looks interesting.
OKTAEVERY CANDLE HAS LIQUIDITY.
PRICE ALWAYS NEED LIQUIDITY.
Nobody Knows Where is Price Going.
Hey traders, here is the analysi.
If you guys like my analysis please hit like?? and follow.
Thanks.
DISCLAIMER- This is not financial advice.
SMART MONEY CONCEPT.
identify Liquidity Or Become Liquidity
OKTA - Small Rise Before The FallOKTA - had a bad crash due to bad year-over-year earnings report despite crushing expectations.
Wave count suggests it was due, expanded flat setup, even with a good earnings report, very likely it would've rejected the 93.50 mark on the first attempt.
We're looking for a strong pullback followed by a lot more down-turn, towards the 1.272 expanded flat range of $60-$58 a share. VERY BULLISH AFTER THIS.
OKTA :Financial Position and Market PerformanceNASDAQ:OKTA
In light of rising cloud services and cybersecurity demands, Okta Inc. (OKTA) has reported robust revenue growth in its recent financial statements. Despite the apparent growth, pressures and anticipations in the market have recently weighed on the company's stock.
Over the past 12 months, OKTA has reported an earnings per share (EPS) of -4.29 USD, despite a revenue per share of 12.15 USD. This suggests that while the company is currently experiencing losses, the positive operating cash flow per share of 1.22 USD and a free cash flow per share of 1.10 USD highlight a healthy cash reserve post-operations and investments.
However, OKTA’s high Price-to-Earnings (P/E) ratio of -16.74, Price-to-Sales (P/S) ratio of 5.94, and Price-to-Book (P/B) ratio of 2.09 suggest an elevated market valuation. On a positive note, OKTA’s Price-to-Operating-Cash-Flow (P/OCF) ratio of 59.00 and Price-to-Free-Cash-Flow (P/FCF) ratio of 65.81 demonstrate the company's robust cash generation capacity.
In terms of ESG ratings, OKTA scores moderately across environmental, social, and governance dimensions, with an overall ESG score of 59.
Despite surpassing revenue and earnings expectations in Q1 and an upward revision of the full-year sales growth forecast from 16-17% to 17-18%, the company's stock fell 15% over the past week, triggered by the CEO's warning and market pressures. This may be due to an overly optimistic market expectation not met by the strong, yet insufficient financial report.
However, in the long run, demand for OKTA's identity management services and cybersecurity products remain strong. With the company progressively overcoming efficiency challenges impacting profits, improved performance can be anticipated. Therefore, while the stock may fluctuate in the short term, long-term investors may see the realization of its potential.
In conclusion, despite current short-term market pressures, OKTA shows a strong growth potential fundamentally. When considering investing, investors should take into account the company's financial condition, market performance, and future growth expectations.
Technical Analysis:
From the daily chart, the overall trend remains within a steady upward channel. We should pay close attention to the 61.8% Fibonacci support level. If the price gets support on the daily chart, the rebound force can break through the resistance level at 90, allowing us to continue holding. However, if the short-term price breaks through the channel support, the market might continue to bear pressure. The current price support is critical. The RSI indicator suggests a higher likelihood of rebound, but the MACD shows an ongoing bearish crossover signal with increasing selling volume. If you have already held positions, you can monitor the support situation around $70 in the short term. If you haven't entered the market, wait for a clear channel support signal before entering.
okta options ideared line = sell break
blue line = buy break
sl's are the sell/buy depending which direction you take.
tp's are the options contract you can take
Okta to break higher?OKTA - 30d - We look to Buy a break of 88.08 (stop at 80.89)
The sequence for trading is higher highs and lows.
Daily signals are bullish.
A break of the recent high at 87.88 should result in a further move higher.
Our outlook is bullish.
This stock has seen good sales growth.
Our profit targets will be 105.48 and 108.48
Resistance: 82.50 / 86.50 / 87.90
Support: 79.50 / 76.00 / 74.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Strong Revenue Growth, Outstanding Execution!Morning*'s valuation implies 2024 EV/Sales multiple of 5.5x.
Forecasted Revenue growth 24% annualized rate over next five years!
TTM Rev Growth YoY was 43%; 206% above sector median! Rev FWD growth is 26% or 142% above sector median.
Expected to become profitable on adjusted OpMargin basis next year and GAAP profitable in 2027 in line with current models as long as Okta continues to execute its growth strategy via investing in sales and research divisions.
The purple area target is my own personal target within time frame expected based on probabilities.
OKTA looking uglyOKTA is looking pretty ugly. Been relatively weak the last month and its not finding any buyers while its under the 200 MA. Trending down.
OKTA looking for higher levels.OKTA - 30d expiry - We look to Buy a break of 88.08 (stop at 80.89)
The sequence for trading is higher highs and lows.
Daily signals are bullish.
A break of the recent high at 87.88 should result in a further move higher.
Our outlook is bullish.
This stock has seen good sales growth.
Our profit targets will be 105.48 and 108.48
Resistance: 78.00 / 82.50 / 86.50
Support: 73.30 / 70.00 / 65.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
