Workday, Inc. (WDAY)

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Stock Price History

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Our View

Workday Inc is a cloud-based software provider for financial management and human resources. The company is ranked number 5 on the Fortune Top 100 Companies to Work For in 2020. The company follows a subscription-based model which brings in recurring revenues. The larger trend in the IT industry is a shift towards SaaS and cloud, something which Workday has a strong moat in. This trend is expected to drive future growth for the company.

A look at the monthly long-term chart for Workday shows an uptrend that began around 2016. This trend reached its peak around June 2019 before reversing. From July 2019 to March 2020, the stock fell by more than 40%. The price broke the bottom of the long-term trend as well.

However, starting April 2020, the price reversed and gained 57% from its lows. It went back above the long-term trend and crossed an important resistance zone at $156. The price is now poised to test the $210 level. Stop loss can be placed somewhere below the $156 resistance level, which is likely to act as a support now.

Position taken today   at $ 182.83 with stop loss 19% below at $148. With short term take profit at $245 giving a return of 34%

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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