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- 1 WDAY stock price is in a strong uptrend and is ready to skyrocket in the upcoming sessions.
- 2 Buyers have the strength and are looking to catch the round mark of $250 soon.
Workday Inc. (WDAY stock) price showed a reversal from the support of $130 and recovered inside the rising parallel channel retaining the highs above $200. Moreover, WDAY stock is in the bull territory and decisively holds the gains. The price action favors the bulls and indicates further buying action could lead to the retesting of the swing of $250 in the following sessions.
Furthermore, WDAY stock will release the Q2 earnings results tomorrow, while buyers make early long positions and continue accumulating the price. Analysts expect a growth outlook with a significant increase in net income and revenues, which kept the positive outlook and sellers cautious.
Moreover, the WDAY stock price is trading above neutrality and near the 20-day EMA, showing strength on the charts. Buyers are gaining traction and are willing to overtake the swing hurdle of $240, leading to a sharp run toward $250. Furthermore, if WDAY stock manages to sustain near $250, the price skyrockets toward $300 for the upcoming sessions.
At press time, WDAY stock price is trading at $226.26 with an intraday drop of 0.43% showing neutrality on the charts. Moreover, the trading volume increased by 0.76% to 1.656 Million, and the market cap is $59.054 Billion. However, analysts maintained a buy and outperform rating with an yearly target price of $245.47 suggesting a growth outlook for the upcoming sessions.
Workday, Inc. engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A. Duffield and Aneel Bhusri in March 2005 and is headquartered in Pleasanton, CA.
WDAY Stock Shows Buyers Dominance On Daily Charts
WDAY stock price action shows the rising parallel channel and suggests a significant rise toward $250 this week per the technical structure. Moreover, buyers are making long build-ups and preparing for an up move which gives strong conviction for a near-term rise.
Furthermore, WDAY share is trading near the 61.8% Fib level and above the mid bollinger band showing a positive outlook on the charts.
The RSI curve stayed near neutrality but showed a bullish divergence, indicating a near-term rise toward $250.
The MACD indicator showed a bearish crossover and formed red bars on the histogram, indicating a volatile chart structure.
Conclusion
Workday Inc. (WDAY stock) price is in an uptrend and in the bull territory, suggesting bullish strength on the charts. Moreover, the trend is strong, and buyers continue to accumulate and are willing to reach $250 in the following sessions. However, ahead of Q2 earnings, investors are keeping an eye on the stock.
Technical Levels:
Support Levels: $220 and $200
Resistance Levels: $250 and $270
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
