WDAY trade ideas
$WDAY with a neutral outlook following its earning release$WDAY posted earnings with a negative under reaction following its earning release with the PEAD projecting a neutral outlook placing the stock in Drift D
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$WDAY stabilized & setting up Workday seem to have found its footings after its earnings selloff, found buyers, put in higher low and now attacking the down sloping trendline for a breakout setup.
2 bullish scenariosWDAY has 2 bullish scenarios so far
C&H on the daily short term
Bullish pennant long term with blue horizontal line as support. Today's price action will show which scenario it will pick.
$WDAY - Bullish Trade Set UpSymmetrical triangle on WDAY daily. Breakout above 230 and my text targets are 236 and then 248.
S TriangleSymmetrical Triangle that is beginning to look like a flag..a long flag...
The prior A triangle has held as support with the exception of a few candle tails..so that is a strong level of S as tails tell a tale..
The big move up aseveral weeks ago has cost WDAY dearly as far as ranging for quite a while inside a triangle..it does look like it is trying hard to break out..but until it does..dunno..a security can't go up that fast as a rule without paying the price later on..
I can only profit from what I can anticipate..but I can not change what will happen
Not a recommendation
WDAY, enters Uptrend as Momentum ascends above 0 levelThis indicator may be signaling that WDAY's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron's A.I.dvisor backtested 88 similar cases where WDAY's Momentum Indicator exceeded 0, and 71 of them led to a successful outcome. Odds of Success: 81%. Current price $221.20 crossed the support line at $224.31 and is trading between $224.31 support and $197.93 resistance lines. Throughout the month of 10/27/20 - 11/27/20, the price experienced a +5% Uptrend, while the week of 11/19/20 - 11/27/20 shows a -3% Downtrend.
Bullish Trend Analysis
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. Tickeros A.I. detected that in 38 of 51 cases where WDAY's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 75%.
The Momentum Indicator moved above the 0 level on November 27, 2020. You may want to consider a long position or call options on WDAY as a result. Tickeros A.I. detected that in 71 of 88 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 81%.
The 10-day Moving Average for WDAY crossed bullishly above the 50-day moving average on November 13, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. Tickeros A.I. detected that in 13 of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 81%.
Following a +5.03% 3-day Advance, the price is estimated to grow further. Considering data from situations where WDAY advanced for three days, in 242 of 341 cases, the price rose further within the following month. The odds of a continued upward trend are 71%.
WDAY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
WDAY ChannelingWDAY, due to earnings, dropped significantly. On the 4 hr, It crashed through the 100 MA, and hit the 200 MA. 200MA served as good support previously and finished the day as a doji.
Bullish pattern showing.
$WDAY Trend Based Fib ExtensionMy analysis: I'm expecting WDAY to bounce. Target at $243 on a wave 3. Could also be bull flag in wave 4 looking at breakout for wave 5.
Thoughts?
"I'm not an expert but I have watched a number of youtube videos"
NASDAQ:WDAY
Symmetrical TriangleA S Triangle can go either way/up or down
WDAY broke up from an ascending Triangle and had quite a rally
Back to where we started from almost. )o:
I have found the market is not to be taken for granted and a strong rally can be followed by a tough decline...moves are not always repeated in the near term
The top trendline of prior A Triangle is at 199.09 and may provide support
There is also a gap there which may provide support
The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. You could also think of it as a contracting wedge, wide at the beginning and narrowing over time.
While there are instances when symmetrical triangles mark important trend reversals, they more often mark a continuation of the current trend. Regardless of the nature of the pattern, continuation or reversal, the direction of the next major move can only be determined after a valid breakout.
Not a recommendation
$WDAY broke out before earningsMade the breakout just minutes before earnings after the close. Let's see if it holds in tomorrow's trading session.
$WDAY setting up for its next run higher$WDAY is building a very constructive pattern possibly setting the stage for another run higher.
* Decreasing volume within the pattern structure
* 6 small candle stick bodies in the last 7 days indicates contraction in volatility (the calm before the next move)
* 3 higher lows (identified with green lines on the chart) indicates buyers stepping in and seeing value at higher prices
The red dotted line on the chart is the high back from July 2018. A daily close above that level will also break the down trending trend line and trigger a long trade entry.
ascending triangle to retest c&h resistancecup and handle failed to push past resistance on October 13. trying again with earnings coming up this week while forming an ascending tringle.
