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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. Yesterday's price range of $216.19 and $219.00 is within the prior day'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, Workday Inc-A share prices have been bracketed by a low of $117.24 and a high of $220.34 and closed yesterday at $216.33, 85% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.1%.

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 39.8% above its average consensus analyst price target of $130.16. Workday Inc-A shares have support at the 50-day moving average (MA) of $202.86 and additional support at the 200-day MA of $171.26.

SmarTrend recommended that subscribers consider buying shares of Workday Inc-A on June 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $209.23. Since that recommendation, shares of Workday Inc-A have risen 3.4%. We continue to monitor WDAY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle workday inc-a

Ticker(s): WDAY