Nov. 13 at 1:12 AM
$WDAY is currently trading at
$227.38, with an RSI of 30.89, indicating it is in oversold territory, suggesting potential for a rebound. The price is below both the 30-day moving average (MA30) of
$235.21 and the 50-day moving average (MA50) of
$234.74, reinforcing a bearish trend in the short term. The recent 60-day high is
$249.85 and the low is
$211.31, indicating a significant range.
Given the oversold RSI, consider a long entry around
$228.50, slightly above the last close, to capture a potential reversal. Set a stop loss at
$225.00 to limit downside risk. Target 1 can be set at
$235.00, aligning with the MA30, and Target 2 at
$240.00, which is near the midpoint of the recent high-low range.
This plan leverages the oversold condition while respecting the overall bearish trend indicated by the moving averages.
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