OLKO: On alert for a H&S bottom

Oklo Inc. (OKLO) broke lower from a mid September into early November head and shoulders top that triggered a continued decline into late December. However, the price action from the late November, late December, and late January lows could be forming a head and shoulders bottom for OKLO.

This developing bottoming pattern remains intact while above the shoulder lows at 81.13-79.01, which coincide with the rising 200-day moving average (DMA) near 80. Sustaining today's rally above the 13-, 26-, and 40-DMAs at 88.11-92.97 would increase the potential to form the right shoulder and place the focus on upside to the neckline at 114.29-115.72. If OKLO forms the right shoulder and decisively rallies above the neckline, the stock would confirm its head and shoulders bottom with further upside potential toward 157.

In addition, OKLO is also forming a head and shoulders bottom relative to the S&P 500. This corroborates the developing absolute price head and shoulders bottom highlighted above. We note that a breakdown from a relative price head and shoulders top coincided with the breakdown from the absolute price head and shoulders top in late 2025.

Daily MACD shows higher lows, which provide a positive divergence that confirms the potential for a head and shoulders bottom in OKLO's stock price.

Chart 1: Oklo Inc. (OKLO) (top), versus the S&P 500 (center), and MACD (bottom): Daily chart