WDAY Workday Options Ahead of EarningsIf 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 earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
WDAY trade ideas
Volume Is Key During A Sideways MarketStrong 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.
WDAY Workday Options Ahead of EarningsIf 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 least half of them.
Looking forward to read your opinion about it.
WDAY - Rising Trend Channel [MID-TERM]🔹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 | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
WDAY - Rising Trend Channel [MID -TERM]🔹Breakout resistance 206 be POSITIVE signals in Short-term.
🔹Between support 206 and next resistance 250.
🔹Technically POSITIVE for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
#WDAY possible correctionWday almost reached its major supply zone 230. When its complete, I expect correction toward major demand level of around 130
There are also 3 intermediate weaker demand zones that overlap key levels at 203, 193, and 175.
Overbought RSI is adding to the possible reverse move.
I am going short after two confirmation signals.
WDAY Roller Coaster Ride: Brace Yourself For The UnpredictableWorkday Inc NASDAQ:WDAY , a cloud-based software vendor, generates revenue by selling subscriptions to its financial management, human capital management, and student information system software. Its platform combines finance and HR in a single system, providing analytical insights and decision support for organizations of various sizes. Workday also offers additional applications, including Payroll, Time Tracking, Recruiting, Learning, Planning, Professional Services Automation, and Student. The company serves industries such as technology, finance, healthcare, education, and government. WDAY is listed on NASDAQ and is a component of NASDAQ 100.
Wyckoff Sign Of Weakness (SOW) Turned Accumulation With Developing Back Up
WDAY hit an all time high of $307.80 on 17 Nov 2021, but retraced from it. The inability to rally up in the subsequent weeks transformed the structure into a Wyckoff distribution phase. This was confirmed when a Wyckoff last point of supply (LPSY) occurred in late April and the price slid in Wyckoff sign of weakness (SOW). It took the price all the way to around $135 on 22 June.
The $135 became support and the price rallied to around $180 on 15 Aug, which helped to define the trading range. For the next few months, WDAY price tested the low of the range twice. The low of 4 Nov has characteristics of a Wyckoff spring that was followed by a Wyckoff sign of strength (SOS) rally. The price attempted to break the $180 resistance on 13 Dec but no follow through, making it a Wyckoff upthrust (UT). Nevertheless, the price did not retest the low of the range and instead launched another SOS rally at the start of 2023.
The price managed to break out from the range on 2 Feb after completion of the Wyckoff accumulation phase. It is now ranging in Wyckoff back up (BU) between $180 and $194.
Bias
Bullish . According to the Wyckoff method, WDAY is now in the BU phase. Although the price broke the $180 support, the reaction was another rally to challenge the $194. If the price is able to commit above $194, the immediate target will be $217.
If the price breaks below $180, it will likely retest the swing low of $172 followed by $158 with a prolonged consolidation in the trading range.
Despite the failure scenario showed up as discussed in this latest video, the characteristics of the FOMC bar was not as bearish as anticipated. This could present a trading opportunity for WDAY to ride for an up swing.
WDAY Workday Options Ahead Of EarningsIf you haven`t played last Q`s earnings:
Then you should know that looking at the WDAY Workday options chain ahead of earnings , i would buy the $145 strike price Puts with
2023-1-20 expiration date for about
$8.60 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Earnings AMCDescending Triangle.
Price fell out but is back inside the triangle.
Neutral pattern until broken.
Announce Date
11/29/2022 (Post-Market)
EPS Normalized Estimate
$0.84
EPS GAAP Estimate
-$0.33
Revenue Estimate
$1.59B
EPS Revisions (Last 90 Days)*
up-3 Down-24
Short interest is around 2.9%.
Workday shares are currently trading at 43x 2023 P/E and 33x 2024 P/E.
No recommendation.
It is often the reaction to the news that dictates the direction this will move versus the news itself.