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Possible Bearish Inside Day Candle Pattern Detected for Workday Inc-A (NASDAQ:WDAY)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Workday Inc-A (NASDAQ:WDAY) based on the price action in the company's shares. Today's price range of $129.70 and $131.84 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Workday Inc-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Workday Inc-A have traded between a low of $65.79 and a high of $140.00 and are now at $130.98, which is 99% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 1.71% higher over the past week, respectively.

Workday, Inc. provides enterprise cloud-based applications. The Company offers human capital, spend, and financial management, as well as payroll, initiatives, and higher education solutions. Workday serves the finance, healthcare, manufacturing, education, and technology industries worldwide.

Workday Inc-A (NASDAQ:WDAY) is currently priced 1.8% above its average consensus analyst price target of $128.67. The stock should discover initial support at its 200-day moving average (MA) of $74.45 and subsequent support at its 50-day MA of $73.70.

SmarTrend is tracking the current trend status for Workday Inc-A and will alert subscribers who have WDAY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle workday inc-a

Ticker(s): WDAY