August 22 Chart of the Day - Workday

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Workday, Inc. (WDAY), provides on‑demand financial management, human capital management, and student information system enterprise software.

The company reports earnings after market close today so we wanted to review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $311.28 all time high (ATH) earlier this year price has fallen dramatically all the way down around the $200 area during the past two quarters. 

Since then, price has bounced slightly and seemingly deciding whether to continue upwards or fade back to the downside.

Weekly Chart

 
On the weekly chart we can see with much more clarity the dramatic fall from ATHs, and the recent bounce back up.  The bulls are attempting to make a series of higher highs and higher lows.

Trading around $234.50 earlier today price may be attempting to establish its next higher high.

The market is implying about a $18.90 move in either direction as marked on the weekly chart by this Friday August 23.  Share price has risen during the week of earnings 5 of the last 8 quarters.

Could earnings be the catalyst that pushes price to its next higher high or will price continue fading?

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?