From Yahoo Finance: 2025-04-09 13:38:00

Cloud stock Okta Inc (NASDAQ:OKTA) has dropped 12.6% in April from its more than two-year high, presenting a potential buying opportunity as it nears its 126-day moving average, historically a bullish signal.

Schaeffer’s Senior Quantitative Analyst notes OKTA is within one standard deviation of the trendline for the first time in at least eight of the last 10 trading days, signaling a potential 28.7% gain one month later based on past occurrences.

Despite the recent pullback, OKTA still holds a 16.9% year-to-date gain and an RSI of 15.2, indicating it’s in “oversold” territory and due for a short-term bounce.

Read more: Strong Bull Signal Flashing on Struggling Cloud Stock