Workday Inc (NYSE: WDAY)

Workday, Inc. provides enterprise cloud applications for global human resources and finance in the United States and internationally. It offers applications for customers to manage critical business functions that enable them to optimize their financial and human capital resources. The company was formerly known as North Tahoe Power Tools, Inc. and changed its name to Workday, Inc. in July 2005. Workday, Inc. was founded in 2005 and is headquartered in Pleasanton, California.
Take a look at the 1-year chart of Workday (NYSE: WDAY) below with the added notations:

After WDAY’s March and April decline, the stock has been trading mostly sideways since. Along the way, you will notice that the stock has created an important price level at $85 (green). That level has been both support and resistance several times over the last 6 months. For the last 2 months WDAY has repeatedly stalled at that $85 resistance, and a break through that mark should lead to higher prices.

The Tale of the Tape: WDAY has a key level at $85. A trader could enter a long position on a break above $85 with a stop placed under the level. However, if traders are bearish on the stock, or the market overall, a short trade could be made at the $85 level instead.
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