Workday Inc (WDAY) – Enterprise Cloud Play – June 4th, 2020

The bullish DailyPlay for Thursday, June 4th is Workday Inc (WDAY). WDAY has rallied 21.94% in the past month and 1M and 6M turned bullish on May 19th and May 21st respectively. WDAY recently broke above its 200-day moving average and has since pulled back providing a good buying opportunity.

Fundamental View

  • Stronger than expected Q1 results on subscriptions and revenues
  • Growing demand for Human Capital Management post COVID-19
  • Earnings August 27th (89 days)

Technical View

  • Recently broke above 200-day MA and pulled back yesterday to provide a good buying opportunity
  • Very strong relative strength score (9 out of 10)
  • Next major resistance level at $200

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