Okta had its Relative Strength (RS) Rating upgraded from 89 to 92 Monday, based on last Friday's trading.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating as they launch their biggest runs.
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The IBD 50 stock is working on a cup with handle with a 90.73 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. For more aggressive investors, one might look for an early entry point, as it is moving higher despite a tough market day. Volume is trending higher as of this writing.
OKTA Earnings
Okta Stock showed 0% earnings growth in its most recent report, while sales growth came in at 23%. The next earnings report is currently scheduled for November 30.
The company holds the No. 6 rank among its peers in the Computer Software-Security industry group. CrowdStrike Holdings, Palo Alto Networks and Qualys are among the top 5 highly rated stocks within the group.
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