Workday is a stock that has been heavily penalized by the declines of recent weeks. The price rose strongly above the 200 EMA and left behind a strong accumulation of volumes (strong support). On the strength of today, I bought this stock at the close. The low volume area above today's closing price is very likely to be violently covered. I forward my analysis for...
A few confluences:
- Horizontal support
- Trend lines
- Hammer on rising volume
- Overall the stock outperforms the Index in IBD Style terms
- 61% Fib retracement
- Reverse or Hidden Divergence
If that works - you have a low-risk high-reward setup.
If it doesn't - we'd understand that quickly and move on.
Fundamentals:
Workday (WDAY) and Palantir Technologies (PLTR ) are in the same industry, but PLTR is the better growth stock currently. PLTR is a YJ growth stock. WDAY does not meet any parameters in my filters. It is not a super stock. However, it is a healthy growth stock in a good industry. "Sometimes a stock does go up simply because the company is doing...
Workday closed below the head and shoulders neckline this week so I definitely would expect a move lower, potentially filling the gap from November. It's oversold now though, so maybe a move similar to the ghost pattern- could totally keep sinking though.
Sitting on my hands for the time being, but my plan is to short once it's not oversold complemented with weak...
Workday with an interesting chart - obvious head and shoulders with an obvious gap below it. RSI looks meandering, but considering it's recent trend something tells me its too obvious, but we'll see.
If this breaks down, I would guess it retests the 230-240 area after the filling the gap. If it bounces, look to the 278-283 area for resistance.
Looking to pay close attention to WDAY this week. It's been staying around the bottom of its current PotterBox where buyers are holding strong. This is a bounce level. However, we haven't had a bounce and we've been hovering around this level for days. Tomorrow's open should give us an idea of where the stock could move but ultimately, the close is what I'll need...
I gave 2 scenarios for WDAY. I showed what I'd be looking for on the move up and what I'd be looking for on the move down. I'm favoring the move to the downside going into Friday 8Mar because of all the taps of the bottom of the PotterBox.
Entries and targets are annotated in the video.
WDAY provides software for large enterprises; it reports Monday the 26th after market hours.
On the 15-minute chart, it is surging. A recent news catalyst was an upgrade to a target of
$ 350. My call options went double digits from a buy on Friday the 23rd at the opening
bell. This looks like a good one for earnings scalping whether it is with shares or a...
Workday is expected to report earnings tomorrow 02/26 after market hours. Price is being squeezed up to a weekly resistance level. I'm anticipating a gap fill downward during the day where would be an ideal area to enter a long position. From there likely to see a breakout afterhours. They have beat earnings expectations the last 4 quarters in a row and hopefully another.
If you haven`t sold WDAY here:
nor reentered before the previous earnings:
Then analyzing the options chain and the chart patterns of WDAY Workday prior to the earnings report this week,
I would consider purchasing the 300usd strike price Calls with
an expiration date of 2024-4-19,
for a premium of approximately $23.70.
If these options prove to be profitable...
Another longshot for me is NASDAQ:WDAY , you could go with a weekly stop about 7% lower or even can choose a huge stop at about 30% lower, this shouldnt break at all or the stock looks bad.
The variable stops which should not be hit are shown as the red line on the chart, if any better ideas coming up, write it in the comments.
Lets see how this Idea is...
If you haven`t bought WDAY ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of WDAY Workday prior to the earnings report this week,
I would consider purchasing the 230usd strike price Puts with
an expiration date of 2023-12-15,
for a premium of approximately $5.85.
If these options prove to be profitable prior to the...
Strong volume is important in a sideways market. Always check to make sure volume is increasing during the run for entries and holds.
Volume is way too low to sustain this tiny run upward in $NASDAQ:WDAY. The stock is likely to retrace or correct and then shift sideways again. Support below is moderate.
If you haven`t sold WDAY here:
Then analyzing the options chain and the chart patterns of WDAY Workday prior to the earnings report this week,
I would consider purchasing the 230usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $8.15.
If these options prove to be profitable prior to the earnings release, I would sell at...
🔹Rising trend channel in the medium long term.
🔹The short-term trading range has experienced a POSITIVE trend as it has broken a short-term resistance level.
🔹In case of a NEGATIVE reaction, the stock has support at approximately 207.
🔹Technically POSITIVE for the medium long term.
Chart Pattern:
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH |...
![WDAY: WDAY - Rising Trend Channel [MID-TERM]](https://s3.tradingview.com/p/PZU01nDA_mid.png "WDAY - Rising Trend Channel [MID-TERM]")
