OKTA INC (OKTA) Stock Technical Analysis
USA - NASDAQ:OKTA - US6792951054 - Common Stock
93.37 USD
-0.23 (-0.25%)
93.08 USD
-0.29 (-0.31%)
Taking everything into account, OKTA scores 2 out of 10 in our technical rating. OKTA has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
OKTA has an average volume of 3793740 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, OKTA outperforms 58% of them, which is more or less in line with the market.
OKTA is an average performer in the IT Services industry, it outperforms 51% of 86 stocks in the same industry.
OKTA is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so OKTA is lagging the market.
In the last month OKTA has a been trading in the 88.17 - 98.87 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. Prices have been consolidating lately. There is a support zone below the current price at 93.03, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for OKTA in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
76.13
102.11
2 important support areas can be observed.
- A support zone ranging from 87.16 to 93.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @76.90 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 93.38 to 94.79. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- Resistance @101.10 from a horizontal line in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for OKTA is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for OKTA is neutral. |
| ChartMill Relative Strength | 58.15 | NEUTRAL | OKTA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OKTA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of OKTA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of OKTA is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 53.72 | NEUTRAL | The RSI value for OKTA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.37 | POSITIVE | The MACD value suggests OKTA has a positive trend. |
| Stochastics (14,3) | 60.4 | NEUTRAL | The Stochastics value for OKTA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.33 | MEDIUM VOLATILITY | The ATR as a percentage value for OKTA suggests some volalility. |
| Average Directional Index/ADX (14) | 17.04 | NEGATIVE | The low ADX value for OKTA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
93.37
-0.23 (-0.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-0.25%
1 Week3.35%
2 Weeks2.07%
1 Month4%
3 Month-6.09%
6 Month-17.91%
12 Month23.26%
2 Year14.55%
3 Year64.18%
5 Year-56.34%
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.61
ATR(20)%3.33%
ATR Inc10.38%
Range Today2.13
ADR(20)2.98
ADR(20)%3.19%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS58.15
Mansfield-1.05
10 Day High94.34
10 Day Low88.9
20 Day High98.87
20 Day Low88.17
52 Week High127.57
52 Week Low70.92
CS1 End93.03
CR1 Start93.38
Volume & EV
DER(3)4.27%
DER(5)2.22%
Volume5.82M
Volume Incr-29.78%
Vol(5)3.11M
Vol(50)3.79M