Workday Technical Analysis (NASDAQ:WDAY)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. The WDAY stock chart pattern can give those who understand technical analysis an indication of which way WDAY stock is headed, but cannot predict with 100% certainty as to what can happen to the Workday stock price.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Workday. Technical analysis uses an approach for Workday stock analysis that does not care for the fair value of a company but uses price and volume data only.
Workday Moving Average
Moving averages show the average price of WDAY stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Workday are mostly signals of long term trends and will help long term traders.
Workday Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Workday. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. The stock price is trading between the average and the upper band in the context of Workday bollinger bands.
Workday Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Workday MACD indicator can be used to identify bullish and bearish trends for the stock.
Workday Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of WDAY stock is 60.1.