S&P 500 Market Outlook: Bullish
Bullish Trade: WDAY $179.48 – Technology
The bullish DailyPlay we chose for Friday, Jan 10th is Workday (WDAY). WDAY is part of the Technology Sector (XLK). XLK has rallied 8.33% higher over the past month and its 1m and 6m trend turned bullish on Dec 6th and recently broke above its $90 resistance level.
Workday’s 1m and 6m trend turned bullish on Jan 8th and recently broke out above its $170 resistance level. With a technical score of 2 (out of 10), WDAY is a weak stock that is starting to turn higher.
As a stop loss, if WDAY was to trade below $170 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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