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

By David Diaz

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 $134.71 and $137.16 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.

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.

In the past 52 weeks, Workday Inc-A share prices have been bracketed by a low of $95.35 and a high of $140.00 and are now at $135.74, 42% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

Workday Inc-A (NASDAQ:WDAY) is currently priced 4.1% above its average consensus analyst price target of $130.16. The stock should discover initial support at its 50-day moving average (MA) of $128.79 and subsequent support at its 200-day MA of $119.00.

SmarTrend is monitoring the recent change of momentum in Workday Inc-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Workday Inc-A in search of a potential trend change.

Keywords: bearish inside day candle workday inc-a

Ticker(s): WDAY