OKTA - High Long Potential - Minimalists AnalysisI'm absolutely NO fundamental analyst.
I literally have no good clue how to read the fundamentals like the Pro's are doing. And I don't plan to learn it in the near future.
BUT...
...I trust my common sense.
The Blue Box explains my common sense thinking and why I see OCTA as a potential buy for the long term.
What I know for sure are my TA skills.
And what I see there is, that price respects the L-MLH of the Andrews Pitchfork.
The Green Box shows the support range.
If you zoom closer you see the "Trigger" bar (green) which started the up-move.
The Blue Boxes are just for myself. I cut out the noise by splicing the inside bars and outside bars to one block. That makes the chart reading easier.
What else do we have in the TA arsenal?
The MACD and the Mansfield RS.
You probably know what the MACD projects.
The Mansfield Relative Strenght is not known very widely. Nonetheless it does it's job by measuring the evolution of OCTAs price compared to the SPX over an average of 52 periods by default.
So, bringing it all together:
If price don't drop below the Forks lower line (The L-MLH or Lower Medianline Parallel), AND both, MACD and Mansfield are positive AND the volume starts to rise furious, then my Gatling fires from all guns. §8-)
Wish you all a happy weekend.
