timwest
Short

Workday Inc WDAY - Bearish Wedge Pattern, Right into H&S Top

NYSE:WDAY   WORKDAY INC
312 10 5
Don't over-focus on the forecast down to $64, but that is what is implied with rising wedge formations. Just think of the setup as a trade and go from there. The risk is a move to $92
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I see some strength in WDAY. With $100 being a magnet.
Now that we are trading above the 100MA I feel like we have some upside. (1st time above the 100MA since April)

Regardless, I don't think I'd feel comfortable shorting WDAY until we trade below 85 again.
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Could you, please elaborate on the entry? Do you enter right away or do you prefer to see some sign of reversal?
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timwest PRO VladimirGas
I'm still watching - I have not entered - I'm tempted here now that it is below two previous day's lows. I'm watching how it acts relative to the steady market and looking for some signs of weakness. Barker has been very good on this stock too, and I'm respecting his opinion about leaving it alone until it drops under 85.
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WDAY is working - dropping right down from the apex of this triangle 81.55 last -5.70 today!
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Great support right here at today's low = cover at least 1/2. This is a key EPS support level. See on chart.
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Barker timwest
Beautiful trade. Well done.

I was on the wrong side of this move. Stopped out without too much pain. Took a scalp on V a few minutes ago from 213.4 to try to get the loss back.

Isn't it beautiful though when charts perform as expected!?
+1 Reply
Barker Barker
And out of the Visa scalp @ 215.04. V still looks good but happy to get my loss back from WDAY
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Cant say nothing on this one. Bravo :)
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Cover here at this EPS support line at 78. Good enough. Thanks Barker for pointing this one out!
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Barker timwest
Excellent trading!
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