We assign a technical rating of 2 out of 10 to OKTA. OKTA's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- 70% of all other stocks performed better in the past year than OKTA.
- OKTA is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- OKTA is part of the IT Services industry. There are 87 other stocks in this industry. OKTA outperforms 75% of them.
- OKTA has an average volume of 2893420 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- In the last month OKTA has a been trading in the 79.70 - 97.45 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, OKTA does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 90.04. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 83.64, a Stop Loss order could be placed below this zone.
More info and screens
77.54
We found 3 important support areas.
- A support zone ranging from 82.45 to 83.64. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @80.06 from a trend line in the weekly time frame.
- A support zone ranging from 78.32 to 78.68. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 90.04 to 90.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 92.23 to 94.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for OKTA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OKTA is neutral. |
| ChartMill Relative Strength | 30.79 | NEUTRAL | OKTA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of OKTA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of OKTA is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OKTA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 50.51 | NEUTRAL | The RSI value for OKTA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests OKTA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 65.01 | NEUTRAL | The Stochastics value for OKTA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.19 | MEDIUM VOLATILITY | The ATR as a percentage value for OKTA suggests some volalility. |
| Average Directional Index/ADX (14) | 14.55 | NEGATIVE | The low ADX value for OKTA suggests a weak or negative trend. |
88.18
-0.27 (-0.31%)
OKTA INC / OKTA FAQ
What is the technical rating for OKTA stock?
ChartMill assigns a technical rating of 2 / 10 to OKTA.
What is the current trend direction of OKTA INC (OKTA) stock?
The current trend direction for OKTA INC (OKTA) is Bearish.
What is the RSI signal for OKTA INC (OKTA) stock?
OKTA INC (OKTA) has an RSI value of 50.5116. This indicates that the stock is currently neutral.
What is the short term momentum for OKTA stock?
The short term momentum for OKTA INC (OKTA) is neutral.