(OKTA) Trading Report

July 13, 2024, 1:12 pm ET, BY Patrick – Contributor, Stock Traders Daily | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Long-term trading plans for OKTA

• Buy OKTA slightly above 87.82, target 99.25 stop loss @ 87.57 Details

The technical summary data tells us to buy OKTA near 87.82 with an upside target of 99.25. This data also tells us to set a stop loss at 87.57 to protect against excessive loss in case the stock starts to move against the trade. 87.82 is the first support level below 96.08, and as a rule, any test of support is a buy signal. In this case, support 87.82 would be tested, so there would be a buy signal.

• Short OKTA just below 99.25, target 87.82, stop loss @ 99.54 Details

The technical summary data suggests a short of OKTA as it is approaching 99.25 with a downside target of 87.82. However, we should have a stop loss at 99.54. 99.25 is the first resistance level above 96.08 and as a rule, any test of resistance is a short signal. In this case, if resistance 99.25 is tested, there would be a short signal.

Swing Trading Plans for OKTA

• Buy OKTA slightly above 98.23, target 99.25, stop loss @ 97.95 Details

If 98.23 starts to rise, the technical summary data tells us to buy OKTA just above 98.23, with an upside target of 99.25. The data also tells us to set a stop loss at 97.95 in case the stock turns against the trade. 98.23 is the first resistance level above 96.08, and as a rule, any break above resistance is a buy signal. In this case, 98.23, the initial resistance, would rise, so there would be a buy signal. Because this plan is based on a break above resistance, it is called a Long Resistance Plan.

• Short OKTA something around 98.23, target price 93.57, stop loss @ 98.51. Details

The technical summary data suggests a short of OKTA if it tests 98.23 with a downside target of 93.57. However, we should have a stop loss at 98.51 in case the stock starts to move against the trade. As a rule, any test of resistance is a short signal. In this case, a short signal would occur if resistance, 98.23, is tested. Since this plan is a short plan based on a test of resistance, it is called a Short Resistance Plan.

Day Trading Plans for OKTA

• Buy OKTA slightly above 98.23, target 99.25, stop loss @ 98 Details

If 98.23 starts to rise, the technical summary data tells us to buy OKTA just above 98.23, with an upside target of 99.25. The data also tells us to set a stop loss @ 98 in case the stock turns against the trade. 98.23 is the first resistance level above 96.08, and as a rule, any break above the resistance is a buy signal. In this case, 98.23, the initial resistance, would rise, so there would be a buy signal. Since this plan is based on a break above the resistance, it is called a Long Resistance Plan.

• Short OKTA something around 98.23, target price 95.19, stop loss @ 98.46. Details

The technical summary data suggests a short of OKTA if it tests 98.23 with a downside target of 95.19. However, we should have a stop loss at 98.46 in case the stock starts to move against the trade. As a rule, any test of resistance is a short signal. In this case, a short signal would occur if resistance, 98.23, is tested. Since this plan is a short plan based on a test of resistance, it is called a Short Resistance Plan.

Check the timestamp on this data. Updated AI-generated signals for Okta Inc. (OKTA) available here: OKAY.

OKTA Ratings for July 13:

Term →	Near	Middle	Long
Judgement	Weak	Strong	Strong
P1	0	0	87.82
P2	91.64	93.57	99.25
P3	95.19	98.23	111.23

AI-generated signals for OKTA

Blue = Current price
Red = Resistance
Green = Support

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This report is produced using AI developed by Stock Traders Daily. Over the past 20 years, this proprietary AI has been refined to identify the most appropriate trading strategies for both individual stocks and the stock markets themselves. This methodology is also applied to index options, ETFs and futures. The purpose of this particular report is to help you trade in Okta Inc. (NASDAQ: OKTA) and applies careful risk management.

Warning:

This is a static report, the data below was valid at the time of publishing, but support and resistance levels for OKTA change over time, so the report should be updated regularly. Real-time updates are provided to subscribers. Unlimited real-time reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools and market crash protection through Evitar Corte.

Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, if OKTA is testing support buy signals, it is the surface and resistance is the target. Conversely, if resistance is tested, it is a sign to control risk or short, and support would accordingly be the downside target. In any case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it also acts as a level of risk control.

Swing trades, day trades and long-term trading plans:

This data is refined to distinguish Day Trading, Swing Trading and Long Term Investing trading plans for OKTA. All of these are provided below the summary table.

Fundamental charts for OKTA: