OKTA, MACD Histogram just turned positive for NASDAQ:OKTA by tickeron

This is a Bullish indicator signaling OKTA’s price could rise from here. Traders may explore going long the stock or buying call options. A.I. dvisor identified 39 similar cases where OKTA’s MACD histogram became positive, and 34 of them led to successful outcomes. Odds of Success: 87%. Current price $242.56 crossed the support line at $234.79 and is trading between $297.76 resistance and $234.79 support lines. Throughout the month of 04/22/21 – 05 /24/21, the price experienced a -12% Downtrend, while the week of 05 /17/21 – 05 /24/21 shows a +8% Uptrend.

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 21, 2021. You may want to consider a long position or call options on OKTA as a result. In 57 of 67 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 85%.

The Moving Average Convergence Divergence ( MACD ) for OKTA just turned positive on May 24, 2021. Looking at past instances where OKTA’s MACD turned positive, the stock continued to rise in 34 of 39 cases over the following month. The odds of a continued upward trend are 87%.

OKTA moved above its 50-day Moving Average on May 24, 2021 date and that indicates a change from a downward trend to an upward trend.

Following a +3.65% 3-day Advance, the price is estimated to grow further. Considering data from situations where OKTA advanced for three days, in 260 of 305 cases, the price rose further within the following month. The odds of a continued upward trend are 85%.

OKTA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

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