Let's check out the charts and technical indicators.
In the daily bar chart of OKTA, below, we can see that prices have doubled over the past twelve months. OKTA largely traded sideways around $55 from last May to December. From late December OKTA trended higher. Prices look like they are firmly above the rising 50-day moving average line and a little extended above the 200-day moving average line.
The daily On-Balance-Volume (OBV) line shows a rise the past twelve months, signaling that buyers of OKTA have been more aggressive and confirms the new price highs with its own new high.
The Moving Average Convergence Divergence (MACD) oscillator has just turned lower, signaling a take profits sell. This signal suggests that OKTA could pull back in the short-run.
In the weekly bar chart of OKTA, below, we can see a base back in 2017 in the $20-$30 area. The rally gets going in early 2018. There are some corrections along the way, but the rising 40-week moving average line does a good job identifying the uptrend.
The weekly OBV line moves higher in a step-wise fashion.
The MACD oscillator has been above the zero line for the entire rally, but it is narrowing toward a potential take profits sell signal.
In this point and figure chart of OKTA, below, we can see a modest downside price target being indicated. A decline to the low $90's will not break the uptrend on the weekly chart (above).
Bottom-line strategy: Aggressive traders might consider buying a dip on OKTA to the low $90s, risking below $85 and looking for gains to the $120 range.