Elliott Wave Technical Analysis: Okta Inc - Friday, June 2

By Peter Mathers of Trading Lounge

Friday, June 2, 2023 8:19 AM EST

Okta Inc., Elliott Wave Technical Analysis

Okta Inc., (OKTA:NYSE): Daily Chart, 2 June 23,

OKTA Stock Market Analysis: Okta has been moving as expected, looking for further upside into wave {iii} despite the sharp correction we had with yesterday’s session.

OKTA Elliott Wave Count: Wave {ii} of 3.

OKTA Technical Indicators: Below all averages.

OKTA Trading Strategy: Looking for upside resumption into wave {ii}.

(Click on image to enlarge)

Okta Inc., OKTA: 1-hour Chart, 2 June 23

Okta Inc., Elliott Wave Technical Analysis
OKTA Stock Market Analysis: Looking for the correction in wave {ii} to be nearly completed, as we might resume lower into wave (c) to complete the correction, knowing we are very close to invalidation level. Should we break the red line we could then have been in a flat correctio in wave 2.

OKTA Elliott Wave count: Wave (c) of {ii}.

OKTA Technical Indicators: Below all averages.

OKTA Trading Strategy: Looking for support at 66.7 to hold.

(Click on image to enlarge)