Strong Bull Signal Flashing on Struggling Cloud Stock

Group 1 - Okta Inc (NASDAQ:OKTA) has experienced a significant pullback of 12.6% since the beginning of April, following a two-year high of $118.07 on March 24 [1] - The stock is currently interacting with its 126-day moving average, which is historically considered a bullish signal [1] - The stock has maintained a year-to-date gain of 16.9% and is in "oversold" territory with a 14-day relative strength index (RSI) of 15.2, indicating potential for a short-term bounce [4] Group 2 - For the first time in at least eight of the last ten trading days, Okta's stock is within one standard deviation of the 126-day trendline, after spending over 75% of the last six months above it [2] - Historical data shows that after similar occurrences in the past three years, Okta's stock was higher one month later 100% of the time, with an average gain of 28.7% [2]