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For OKTA earnings on June 2, 2022 (after market
shut at 5:00 PM Jap time), ForexLive.com presents the next technical
evaluation chart pictures and movies, displaying the inventory’s previous transfer and conduct.
In sure circumstances, we additional try to predict the upcoming put up earnings
inventory transfer and buying and selling alternatives by analyzing OKTA’s value development, chart
patterns, quantity, momentum indicators, oscillators, shifting
averages and help & resistance ranges.
The choices market is pricing 11.3% transfer for
Okta inventory for this Q1 2022 earnings report.
OKTA
Technical Evaluation by Worth Pattern
- We take a look at OKTA’s normal
path or development, as outlined by its increased swing highs and decrease swing
lows on the next timeframes: - Month-to-month candles – OKTA
inventory is trending down with 5 consecutive bear month-to-month candles as much as
the top of March 2022 - Weekly candles – the inventory
could also be beginning to construct its horizontal base previously 2 weeks,
following 6 weeks of consecutive declines. - Every day candles – OKTA has
been buying and selling sideways between apx $77 and $87 for the previous 9 day by day
buying and selling days (14 calendar days)
OKTA
Technical Evaluation by Chart Patterns
On the weekly timeframe, OKTA inventory has 4 to five
contact factors on the prime of the channel proven within the picture under, and about 4
contact factors on the channel’s decrease band. Algorithms and professionals might this
backside of the vary as a respectable place to guess on a Lengthy commerce, with a cease
loss shut (however not too shut) under and take revenue potential that’s excessive as
OKTA might get again after earnings to the center channel at apx $140, which might
be 64% increased than the present inventory value of $84.43
OKTA
Technical Evaluation by Quantity
By wanting on the Quantity Profile, often known as
the Market Profile, a charting examine that exhibits commerce exercise over a sure
size of time and at “market accepted”, standard value ranges, OKTA exhibits us
that value could also be discovering very robust help on the VAL (Worth Space Low)
slightly below $76 and may go to the subsequent value stage, the PoC (Level of
Management), proven because the purple line within the picture under, at apx $130
OKTA
Technical Evaluation Momentum Indicators
The Momentum Indicator (MOM) is a number one
indicator that measures the tempo of change of a safety. It compares the
present value to a previous value from a earlier time interval. On the day by day
timeframe, because the under chart picture exhibits, the momentum of OKTA inventory is rising
and this may help accumulation earlier than the subsequent large rise.
OKTA
Technical Evaluation by Oscillators
The most well-liked oscillator indicator is the RSI
(Relative Energy Index), and in technical evaluation, this indicator examines
the scale of latest value fluctuations to find out if a inventory or different asset is
overbought or oversold.
The RSI can additional be utilized by analyzing the
cross over or cross below its shifting common, to sign on latest momentum, and
the under chart exhibits us OKTA remains to be in oversold territory (supporting a
bullish transfer subsequent as there may be lack of sellers) in addition to having most
latest elevated, relative shopping for strain.
OKTA
Technical Evaluation by Shifting averages
Shifting averages are used to evaluate the development
path of shares. It is decided by summing all the info factors for a
interval and dividing by the variety of intervals.
Shifting averages present merchants buying and selling clues
and the under chart for OKTA exhibits that value is reclaiming its 9 EMA shifting
common, which is kind of a well-liked shifting common. If OKTA is about to shut its
day by day candle above the blue line, that helps a LONG place for OKTA
earnings. If the value in the present day is about to shut under the 9 EMA, then that will
help a brief or no commerce.
OKTA
Technical Evaluation by Help and Resistance Ranges
Help is a low inventory value stage, whereas
resistance is a excessive stage. When a inventory’s value lowers, merchants purchase.
Reactionary buying stops a inventory’s decline and begins its rise.
Because the under technical evaluation of OKTA exhibits,
the resistance above is the spherical variety of $100. This suggests that, ought to
OKTA rally after earnings, that resistance can be a “magnet” pulling
individuals to carry on and never promote under, since they imagine OKTA inventory value will
get there.
On the decrease facet, the low of March 2019 is an
vital help.
Commerce
OKTA Earnings at Your OWN RISK
Technical evaluation is at occasions considerably restricted
earlier than earnings since new info, like poor income steerage introduced at
the earnings, can “restart” many of the technical indicators proven on the
chart. ForexLive.com presents the above for informational and analysis
concerns solely, and the chance of buying and selling OKTA on its earnings is solely on
you. Nonetheless, in case you do, then good luck. We hope that we may help with a few of
our evaluation views and choices.
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