OKTA is setting up for a day trade scalp long...perhaps an aggressive swing trade as well. The day trade is a much higher probability of success around the $98.50-$99.30
Okta's stock has seen some volatility recently. After a strong rally earlier this year, it pulled back following cautious guidance from the company. Despite beating expectations on sales and earnings for Q1 fiscal 2026, investors were concerned about slowing growth, leading to a 14.6% drop in its stock price.
Okta reported $688 million in revenue, a 12% year-over-year increase, and positive free cash flow of $238 million, but its GAAP earnings were significantly lower than its adjusted earnings. The company maintained its full-year revenue forecast of $2.85 billion to $2.86 billion, reflecting 9% to 10% growth, but analysts tempered their optimism due to macroeconomic uncertainties.
Technicals
- Multiyear Support
- 50 % Fib Retrace
- Upsloping Trendline
- Positive Divergence building on 1/ 4 hour chart.
Okta's stock has seen some volatility recently. After a strong rally earlier this year, it pulled back following cautious guidance from the company. Despite beating expectations on sales and earnings for Q1 fiscal 2026, investors were concerned about slowing growth, leading to a 14.6% drop in its stock price.
Okta reported $688 million in revenue, a 12% year-over-year increase, and positive free cash flow of $238 million, but its GAAP earnings were significantly lower than its adjusted earnings. The company maintained its full-year revenue forecast of $2.85 billion to $2.86 billion, reflecting 9% to 10% growth, but analysts tempered their optimism due to macroeconomic uncertainties.
Technicals
- Multiyear Support
- 50 % Fib Retrace
- Upsloping Trendline
- Positive Divergence building on 1/ 4 hour chart.
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