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Chart of the Week: Okta

This week we’re gonna be focused in on technology name Okta; (OKTA) is the symbol. So let’s take a look at this chart. It’s been pretty strong. We were on this name a couple of weeks ago when they had earnings. And it pulled out really nicely.

And as you can see here, it had a huge gap up and followed through. Hit some resistance at this $117 level and pulled back a little bit. It was an idea pullback. Why was it ideal? Because it was on lower volume over here. We had that big huge volume move over here.

And so what we’d like to see is this stock bouncing back – it’s made a little bit of a V bottom over here. And we have the stock testing resistance about the $117 area.

We do have the gap still as some support. It did pull back down to this $97.50 area on the day after earnings were released. So that’s gonna be also a nice level of support.

We have the MACD, which is on a buy signal

But what’s really impressive here is, take a look the on-balance volume at the bottom here. This is really super impressive here.

We also have good strong momentum with the direction of the stock, making higher highs and higher lows.

And then finally, good strong bullish action in the Chaikin money flow, which is still positive after two and a half months of 2025.

So, if you’re looking for a stock to buy that’s in the technology area, find the best charts. And this is one of the best charts out there. OKTA is the symbol. Thanks so much for watching everyone, and I’ll see you guys next time.

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