WDAY base breakoutTook 155C for next week as per plan posted yesterday. Up 30% so far. Looks good i to next week.
WDAY trade ideas
Multiple bottomsAnd barely an inverse head and shoulders due to the closeness of the bottoms. The bulls take a stand at these bottoms and have not let it go below 217ish so far.
WDAY has not broken the neckline which represents resistance. It will be support if broken
Negative volume is high. Short interest is 4.52% and days to cover shorts is 5.6 (short ratio)
No recommendation. I bought this on the deep pull back when AMZN dropped the contract with WDAY . I figured it was not the end of the world and price hit support.
No recommendation.
WDAY fell from an ugly top.
WorkDay (NASDAQ: $WDAY) Could See A Huge Reversal! ◀️Workday, Inc. provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations. The company also provides cloud spend management solutions that helps organizations to streamline supplier selection and contracts, manage indirect spend, and build and execute sourcing events, such as requests for proposals; Human Capital Management (HCM) solution, a suite of human capital management applications that allows organizations to manage the entire employee lifecycle from recruitment to retirement, and enables HR teams to hire, onboard, pay, develop, reskill, and provide employee experiences; Workday applications for planning; and applications for analytics and reporting, including augmented analytics to surface insights to the line of business in simple-to-understand stories, machine learning to drive efficiency and automation, and benchmarks to compare performance against other companies. It serves professional and business services, financial services, healthcare, education, government, technology, media, retail, and hospitality industries. The company was formerly known as North Tahoe Power Tools, Inc. and changed its name to Workday, Inc. in July 2005. Workday, Inc. was incorporated in 2005 and is headquartered in Pleasanton, California.
Put sale on WDAYNot the first one. This also happens to be below the 100 SMA on a monthly. I'm not afraid of owning 1,000 shares of WDAY down here. I will have to go and see how many put sales expired in the past to "calculate my DCA If I got put shares, but I dig it. I will be okay to buy to close this one for 50% prem capture before July..."
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Head and Shoulders /Triple TopPrice appears to have broken the neckline of a H&S pattern, consolidated, then formed a triple top at the prior neckline which is now resistance. Price could not break above the resistance of the prior H&S neckline.
This chart is similar to CRM in some ways. Like CRM, there is also a possible Cypher or Shark forming on weekly which would take price quite a bit lower if so. Both landing pads are marked down with a blue X.
Short interest is around 3.9%.
These are Heiken-Ashi candles. I look at them when I need to eliminate market noise that typical candles can create. Since noise is filtered, you can see the naked trend.
The Heikin-Ashi Open is the average of the prior Heikin-Ashi candlestick open plus the close of the prior Heikin-Ashi candlestick. Green candles with no lower shadow signal a strong UPTREND. Red candles with no upper shadow signal a strong DOWNTREND. These candles can show trend direction as well as trend strength.
These candlesticks do not show a shadow in the unless it is in the direction of the trend. When there is no shadow/wick (shaven), price is in a strong trend.
So a strong trend consists of shaved bottoms that are green for an uptrend and shaved heads that are red in a downtrend.
I will revisit this as targets could get lower dependent on market conditions. Today it is raining bullets )o:
Earnings May 30th.
No recommendation.
Weekly Chart
www.tradingview.com
WORKDAY Testing SupportWDAY is a new one on my radar and I'm glad I found this one. After further review of this company, a lot of things attract me about this stock while being in the current state of the market. WDAY has the highest P/E that I have ever come across (17,418) while trading. This company hasn't generated a positive net income in 5 years and is currently sitting on support. Frankly, I'm pessimistic about the outlook of this company. As money starts moving away from equities, the companies with the highest P/E's are typically hit the hardest. If WDAY breaks below the trendline, WDAY will most likely head to the 2.618 Fib retracement at $220.
Not financial advice
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Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
WDAY huge earnings pumpWDAY we were watching in early august for that breakout and we ended up getting it and a huge win from it! Now, it appears that wave 3 is looking for the 261.8 extension in the upper 280s. We will be finding wave 3 top somewhere up here, but I do expect us to melt higher into next week (unless market weakness makes us find wave 3 top early). From there we can find a wave 4 PT and see the spot to go long for wave 5. Wave 5 PT is looking to be about 300 right now
Descending Triangle Earnings 8-26 AMCWDAY is above the neckline of a multiple bottom/inverse head and shoulders pattern.
The neckline is a source of support after price is above it. The upper trendline of the triangle is also support once price is above it.
Large Descending Triangle and price is over the upper trendline which can now be a source of support. Descending triangles can break to the upside, ascending triangles can break to the downside. A triangle is a consolidation pattern and price forms a vacuum as the trendlines converge. Price will break one way or the other eventually. Possible stop under neckline or where you see support.
No recommendation
What to look for $WDAYChart analysis
Workday had a big uptrend since the Covid-19 Crash. But as we saw in November 2020- May 2021 there was a head and shoulders formation and price traded pretty much sideways.
Buying side:
-find a lot of support in the red area (9x)
-huge candle with 2 times big wick underneath (bullish)
-above 20+50 SMA
Selling side:
-under 100+200 SMA
-intact downtrend since February
-breakout of a potential triangle formation (violet/white lines)
RSI: not clear
MACD: the daily not clear, weekly tendency to uptrend, monthly t. to downtrend
I next days will be important to watch. What I would be looking for as a buyer is that prices goes above the downtrend line (violet) to get this confirmation of an new uptrend.
The second thing is that we get above the SMA 100 (blue line) and this more than 3 days.
This would be in the range of <240$. It could be your first entry but your stop lost must be very tight to the SMAs. Target could be new ATH (+17%) in a matter of weeks. Profit exit could be the 249$ (Sep. ATH), too.
Second idea would be to invest over the resistance of 249$. It is a 3,5% difference to first idea but I would say a safer play because we would be beyond the September ATH and therefore have a more valuable buy signal. Target would be new ATH (+13,5%).
Alway expect small corrections the way up. They are most likely connected with support/resistance lines I draw.
Fundamentals:
Seeking Alpha article by Gary Alexander
„In my view, Workday's rally is nearing an end. The company has hit a fairly rich valuation at ~11x forward revenue, despite the fact that revenue growth is slowing to the mid-teens and margins are expected to deteriorate following a hiring spree. With a saturated market, I don't see much opportunity for Workday going forward.“
Source:
seekingalpha.com
