OKTA Breaks Down Through EMAs to $71.14
Okta Inc (OKTA) ticked higher by 2.35% to $71.14 on February 25.
Chart analysis reveals a bearish configuration:
Momentum
RSI at 30.4 is in neutral territory but trending lower. MACD reads -3.74 against its -2.04 signal line (bearish).
Moving Averages
Price sits below both the 9-day ($78.18) and 21-day ($82.57) EMAs, suggesting short-term weakness.
Volatility
Price has pierced the lower Bollinger Band ($72.07), which often precedes a bounce.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $72.07.
The $72.07-$95.36 range defines near-term boundaries.
