RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of OKTA
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Okta stock price ended at $104.62 on Thursday, after losing 0.286%.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 26, 2024 Gain 21.20% PDF

The Okta stock price fell by -0.286% on the last day (Thursday, 28th Mar 2024) from $104.92 to $104.62. During the last trading day the stock fluctuated 1.58% from a day low at $104.30 to a day high of $105.95. The price has fallen in 7 of the last 10 days and is down by -2.86% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -349 thousand shares and in total, 861 thousand shares were bought and sold for approximately $90.05 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 33.41% during the next 3 months and, with a 90% probability hold a price between $125.22 and $158.49 at the end of this 3-month period.

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OKTA Signals & Forecast

The Okta stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $105.14. On a fall, the stock will find some support from the long-term average at approximately $98.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -6.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Okta stock

On the downside, the stock finds support just below today's level from accumulated volume at $87.30 and $84.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Okta finds support just below today's level at $87.30. If this is broken, then the next support from accumulated volume will be at $84.55 and $83.66.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.65 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 2.47%.

Our recommended stop-loss: $99.35 (-5.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (OKTA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Okta Inc to open at $104.96, and during the day (based on 14 day Average True Range), to move between $101.37 and $107.87, which gives a possible trading interval of +/-$3.25 (+/-3.11%) up or down from last closing price. If Okta Inc takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $107.30 (2.56%) than the support at $87.30 (16.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Okta Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Okta stock to perform well in the short-term.

Current score: 2.783 Buy Candidate Unchanged

Predicted Opening Price for Okta Inc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$104.96 ( 0.322%) $104.62

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for OKTA

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 106.61 1.90 %
R2 105.98 1.30 %
R1 105.59 0.92 %
Current price: 104.62
Support S1 104.33 -0.281 %
S2 103.94 -0.653 %
S3 103.31 -1.26 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 111.49 6.57 %
R2 108.49 3.70 %
R1 107.30 2.56 %
Current price 104.62
Support S1 87.30 -16.56%
S2 84.55 -19.18%
S3 83.66 -20.03%

FAQ

What is the symbol for Okta Stock and on which exchange is it traded?
The symbol for Okta is OKTA and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Okta Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Okta stock to perform well in the short-term.

How to buy Okta Stock?
Okta Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Okta Stock.

What's the current price of Okta Stock?
As of the end of day on the 2024-03-28, the price of an Okta (OKTA) share was $104.62.

What is the 52-week high and low for Okta Stock?
The 52-week high for Okta Stock is $114.50 and the 52-week low is $65.12.

What is the market capitalization of Okta Stock?
As of the 2024-03-28, the market capitalization of Okta is 16.72B.

When is the next earnings date for Okta?
The upcoming earnings date for Okta is May 29, 2024.
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About Okta Inc

Okta Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables u... OKTA Profile

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