Workday Consolidates And Readies For A Move To All-Time Highs

Workday (WDAY) is in that very hot cloud application category that is taking the world of technology by storm. We see the amazing run this stock has made since the start of 2018, and the recent sideways action (range bound) for the past few months has been a nice consolidation.

It appears we may be at the precipice of a potential breakout, with a MACD buy signal and still positive money flow. The gap lower from earnings was filled on Monday with strong turnover, indicating institutional sponsorship. Momentum indicators and RSI seem to show there is more upside to go, we could see the old highs challenged before too long.

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