OKTA Trade Analysis | Technical Swing Setup with ~9% Upside

3 Haz

Entry: $104.43
Target: $114.76
Stop: $100.90
Risk/Reward: 2.93

This swing trade in OKTA was initiated following a pullback to key technical support levels. Price action has stabilized near the top of the Ichimoku cloud (Senkou Span A), which aligns with the daily Pivot Point around $100.58. The bullish cloud structure remains intact, and the Kijun-sen is flat—both signs that the broader trend is still constructive.

While the MACD histogram is negative, the deceleration in selling pressure suggests potential for momentum to reverse. Previous setups with similar MACD behavior in April led to a strong move higher. The target aligns with R1 resistance at $112.71, giving the trade a clearly defined technical ceiling. Candlestick action over the past few days has shown lower wicks and rejection of downside, pointing to early signs of buyer interest.

This is a trend-continuation setup with a tight stop below the cloud. If price closes under $100.90, the trade will be exited to manage risk. Until then, the structure supports a move higher. This trade follows a strict risk/reward framework and fits within a broader strategy focused on technical precision and disciplined execution.

10 Haz

İşlem aktif

Trade Active - adding to position here. Let's see if the support can hold here.

13 Haz

İşlem kapandı: durdurma seviyesi

Stop reached. Trade closed. 3.5% loss