Predictions for WDAY
Like Zoom Video, Workday (NASDAQ:WDAY) is scheduled to report earnings on Monday after the close. Unlike Zoom, the last two earnings reactions have been positive for Workday.
Manytech stocks have struggled over the past year, but have been roaring higher over the last few months. In the case of Workday, shares rallied 50% from the November low to this month’s high.
While shares did suffer a peak-to-trough decline of 58%, that was actually better than many other growth stocks.
The Chart: On the downside, bulls actually have a decent long setup if— and that’s a big “if” — the $175 to $177.50 area can hold as support. If that’s the case, Workday could be a buy-the-dip setup. On the flip side, a break of this area could put $160-ish in play.
On the upside, $190 to $192 is the first target, followed by $200.
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