Swing Trade Ideas – (WDAY) – June 4, 2020
Our bullish trade for Thursday, June 4th is WDAY (Workday Inc).
WDAY is part of the Technology Sector (XLK). XLK has experienced a 11.2% gain in the last month and its 1M and 6M trends turned bullish on the 8th and 22th of April respectively.
WDAY’s 1M trend turned bullish on may 19th and has recently pulled back providing a good buying opportunity until $200 resistance. With a technical score of 9 (out of 10), WDAY is a very strong stock that will likely continue higher.
As a stop loss, if WDAY were to trade below $173 for multiple days, this would invalidate our analysis and we would consider cutting losses on the trade. We would also focus on cutting losses on this options trade if the value of the vertical spread moves below $3.65.
