Okta broke out of a base today on very strong volume.
Pivot point of $42.98, max 5% range for IBD type rules is $45.13, so still well within the buy range.
For those that like a strong RS…
Okta’s No. 9-ranked Computer Software-Security group gets the award for “most improved,” having strengthened from the No. 25-ranked group just six weeks back. Okta rose 3.4% last week to 41.97, closing in on a 42.98 buy point. The April 2017 IPO’s RS line is hitting a new high before the stock price, which is especially bullish
yet to turn a profit, so growth fundamentals are not top notch yet…Composite Rating 80 Neutral
EPS Rating 20 Fail
RS Rating 97 Pass
Group RS Rating A+ Pass
SMR Rating D Fail
Acc/Dis Rating A Pass
For those that are long and want more, now is a time where institutions are showing a desire to accumulate, and they can’t buy all they want as fast as you can.