OKTA trade ideas
Okta (OKTA) stock flying high, but is it overbought?Okta provides identity solutions for enterprises, small and medium businesses, universities, and government agencies. The Okta Identity Cloud enables customers to secure their users and connect them to technology from any place. Its clients include JetBlue, Experian, and flex to name a few.
The company which started in 2009 has grown from two to 1,300 employees and has a market capitalization of $6.4 billion. The growth has been tremendous. Some analysts warn of high valuation but they are also ignoring the growth of data privacy industry. Data privacy and cybersecurity will become a $1 trillion industry in the next few years.
Revenue is expected to grow 40% to $84.82 million for the second quarter. The next quarter results will be released after market close on September 06, 2018.
www.finstead.com
OKTA trade Entered @ 52.41 on 8/3 at 11:25.
Price has stalled... probably should have taken the 2R profit. If it fails from here will most likely retest my entry level.
OKTA Short NASDAQ:OKTA - Bullish bat formation but not before an extreme correction of the December 19, 2017 bull run.
Expecting it to bottom out at $29.19 around November 20, 2018.
If it breaks $58.8 the next seven (7) trading days, this entire analysis is shelved.
Just got into trading - please comment and provide any feedback for my assessment.
Thanks - happy trading!
Equity Trend system went long in Okta #marketimpact @randholmQuant system Equity Trend starts to add long position in Okta, Inc.
OKTA support at 48First post here so bear with me.
OKTA (in hot S-A-A-S sector) has support at 48 at multiple times. Stochastic oscillator (on 5-day and normal 14-day) is oversold. Placed limit order at 48.05 and got filled.
Target here is in 53-54 range or until stochastic overbought. 53-54 is in range of 13-day EMA in the week or so past earnings date.
Stop loss at $46.
There may be resistance at 13-day EMA at $51.10 or so. If it breaks through, then 53-54 is good possibility. Hopefully this trade makes 10%.
Good luck out there.
Heavy Vol pulled this well past several moving averages200ma on 1hr may offer support for bounce. Weekly candle is looking very bearish if cant move and close up past 53tmrw it will end the week with a bearish engulfing with ultra high volume. suggesting a top and possible move back to low 30s
Cant say you could see this coming1HR MACD curling, 5/10 MA Golden Cross, Bounce off ichimoku Cloud Lower support. close above 66.75 we will see new highs
OKTA bullishNice accumulation after earnings, waiting a breakout with some good volume to get into a long position
Consistent Black DaysSupported with downward signals from oscillators. May shift to a rising three and will be on that lookout in next day
OKTA head and soulder's ( Bearish ) OKTA has formed a clear head and shoulder's with a high volume today. We should expect a breakdown, and drop to 16ish-15ish. Good Luck
