Chart analysis
Workday had a big uptrend since the Covid-19 Crash. But as we saw in November 2020- May 2021 there was a head and shoulders formation and price traded pretty much sideways.
Buying side:
-find a lot of support in the red area (9x)
-huge candle with 2 times big wick underneath (bullish)
-above 20+50 SMA
Selling side:
-under 100+200 SMA
-intact...
Here is what stocks we are going to be keeping an eye on this week!
NASDAQ:WDAY
We are looking for a move here over $242 with target levels of $243.50, $246, and $248
NASDAQ:ATVI
Like how we are holding the 200sma just under trend resistance, we are looking for a move here over $92 for a run into earnings with a target of $93, $94, and $95
NASDAQ:NVDA...
Workday, Inc.
Peak highlighted candles are bearish
blue arrow represents the move down
High lighted candles resting on the POC indicate strength
ADX and MACD line up twice to show the move
pt 260
Our WDAY longer term holdings is moving in and out of money. We are looking for a wave iii push higher into 275 once this consolidation is complete. The daily count shows we could be in a sideways market here but we will be holding on to our long-term holdings in long WDAY positions.
Our long entry on WDAY was triggered moving in and out of money but the focus is on larger degree wave (5) move that might target the 290-300 level. Notice a breakout and a minor pullback that is a good zone for additional longs on WDAY. Look to hold on to existing Long position on WDAY into Dec 2020.
Observed Workday on both front, post COVID double dip, the stock has been constantly moving up. during COVID it tested its long term support of 120 which it held fine. Post that its support levels 149, 157 are crucial supports.
In very short term again it made double dip before accelerating to 168-170 levels however in very short term i see this stock to hover...
WDAY is working on a final sideways pattern before testing the completion level for this intermediate-term bottom. Large lots have recently created a Shift of Sentiment™ pattern in the Balance of Power Indicator with their large lot activity.
WDAY topped on the short-term trend, but it is bouncing off of weaker support from money highs in 2018. WDAY remains at risk for more downside slip slide action, until it enters the Platform candlestick pattern formation from 2018. That support level offers stronger support due to a prior Dark Pool Buy Zone™ with minimal accumulation.
Workday (WDAY) has been on a strong upward trend and has bounced off the 180 day EMA line as a support. Wday can continue to move upwards to an easy 3% with low risk on trade.
Nice move to the upside and crossing over the MAs.
I was just about to add some to my position, but this one got away as I was driving. This is a great lesson for myself to focus on taking the opportunity when i see it.
