Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Okta stock price was $72.37 (press time) with a drop of 0.15% in the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>Oktan stock shows a state of confusion right now; it is trading in a tight range.</a> </li> 
</ul> 
<p>Okta (NYSE: OKTA) stock is inside the triangle-type channel which indicates uncertainty. Recently, the stock has shown its intent to flip the ongoing trend and break the crucial level of $86 above the 200-day SMA. This downfall shows that bears are in control.</p> 
<p>At press time, OKTA stock price was $72.37 with almost no intraday change. It broke below the 200-day EMA, showing bearishness on the charts.</p> 
<p>Moreover, the intraday trading volume last 24 hours is 1.424 Million less than the average 10 days volume of 1.544 Million. The market cap of OKTA stock is 11.75 Billion.</p> 
<p>However, OKTA stock has stayed in a downtrend over the past weeks, facing rejection from the upper trendline, which acted as a barrier to an exit from the trend. Moreover, the price action shows that Okta stock has persisted in facing mild selling pressure.</p> 
<h2 class="wp-block-heading" id="strong-what-technical-indicators-say-about-okta-stock-strong"><strong>What Technical Indicators Say About Okta Stock?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/KnVQEvZUFDi7u4a5p4FeKs-_ZhbexdXYnMoKR9ny-ovaL3HltckusvgCTXrhQ9NWkQScdzYxh_fW-6zAOnvpeg-L_y2ZoSLrfmt-X7WlK4y_CnQqrdNy1mDsj-v7O67ZAfUS1cB-UYJez_yMyjxvbQ" alt=""> 
  <figcaption class="wp-element-caption">
    Source: Okta.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily chart, Okta stock produced a triangle pattern. The price is near the lower trendline below the 50-day SMA, showing weakness. Recently, the stock bounced back from the channel lows and headed towards 50 SMA but failed to surpass it.</p> 
<p>Okta stock is now trading near the middle Bollinger band and below the 23.60% Fib level, below the 50% level, near $72. Furthermore, as per the charts, sellers are gaining traction and preparing for the next bearish move.</p> 
<p>On the 4-hour charts, Okta shareis on the verge of a most awaited breakdown, which registers when the price trades below $69.96. However, buyers are accumulating the stock by defending it from the support of $69.</p> 
<p>The RSI curve near 50 signals neutrality. The neutral momentum is seen on the MACD as well, which shows red bars. Both the MACD line and the signal line are trading close to the median line suggesting neutrality in the stock.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>The price action reflects neutrality at the moment while technical oscillators support the bullish trend. The MACD, RSI, and EMA are emphasizing neutral signs and imply that the downtrend may continue in the OKTA <a href="https://www.thecoinrepublic.com/2023/08/16/xom-stock-2-57-intraday-sellers-dominate-reversal-possible/" target="_blank" rel="noopener noreferrer nofollow">stock price.</a> Investors are uncertain according to the 1-day chart. Moreover, Okta investors are avoiding the fear of missing out. Scarcity is created in the stock market for gaining more investors and creditors. It is better to keep it at an arm’s length as this may result in one of the emerging reasons for market volatility.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> Nearest support levels are $70.74 and $64.62.</li> 
 <li><strong>Resistance Levels:</strong> Nearest resistance levels are $79.96 and $83.06</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Okta Stock Price Prediction: Assessing OKTA’s Potential in 2023

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