OKTA Retest with Round upOKTA is forming a rounding formation and has just crossed over the moving averages remounting over old support at the 248-250 level. This level was the retest level, that it just remounted over. Continuing its rounding trend back toward previous high levels. A break below the retest level would void the trade.
0KB7 trade ideas
ABC BullishAgain!
OKTA seems to just keep going!
Long term uptrend, but the trend is not eons old..
Surprisingly, there are no bearish rising wedges in the yearly chart..
NV and obv are both very high showing large player interest..
A = 200.6 B = 287.35 Targets calculated using the AB leg. C can not fall under A for pattern to be valid. Target is D..Possible stop under C in a safe place..Long entry level is a break of the BC leg with an uptrend in place so subjective..
Not a recommendation
OKTA - January 3, 2020OKTA provides identity management services for business through integrating local servers with the Okta Identity Cloud. This platform enables enterprise clients to have users sign onto a variety of applications using a single secure identity login across all platforms. OKTA has a high lifetime value of customers as churn in this industry is considered to be relatively low. The company expects 30% CAGR to revenue growth through 2024, and trades at a lofty 40x sales multiple. It has had a healthy pullback as year end portfolio rebalancing saw money flow out of growth, now representing a strong buying opportunity for the stock.
OKTA - Blue Sky BreakoutThis is the infamous Moonshot blue sky breakout play here for OKTA. Just had news that it is being added to the NASDAQ 100 as well, so this should see a nice pump. Going long on break of 254, with the following price targets:
PT 1: 258.89
PT 2: 269.76
PT 3: 279.27
I personally use OKTA for work as well and it is a gamechanger. With large enterprise companies shifting their focus rapidly to ensuring a better-connected tool stack ecosystem, OKTA has been a massive beneficiary of the acceleration of digital transformation.
$OKTA with a Bullish outlook following its earning releaseThe PEAD projected a Bearish outlook for $OKTA following its earning release after a positive over reaction following the announcement placing the stock in Drift B
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ABC BullishPattern only valid at or over LE level with an uptrend
Possible T2 284.5 to 307.7. These are long term targets
Possible stop below C
NV is high OBV is high showing large players interest
Negative Volume (NV) is volume on down days. Positive volume is volume on up days, which is usually when the general public buys
No rising wedges in yearly chart
Just an observation
Megaphone Pattern?Megaphone pattern is a pattern which consists of minimum two higher highs and two lower lows. The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction. Normally this pattern is visible when the market is at its top or bottom.
Also referred to as an ascending broadening wedge and an inverted triangle. This pattern appears after a strong trend up or a strong trend down
When the pattern is forming it represents that the bulls and bears are fighting to build control of the stock.
The pattern takes place when the bulls take the prices higher.
At the time of formation of the Megaphone Top, then again, bears make the prices fall because of which lower lows are formed.
There are bearish megaphone patternis and bullish ones as well. Neutral/just an observation
I guess if you really like this stock you can swing trade inside of it
Not a recommendation