Workday ( WDAY) is set to report their latest quarterly figures after the close of trading Monday. Let's check out the charts and indicators of this cloud company that helps employers unify human resources, benefits, talent management, payroll, time, and more. 
In our October 13 review of WDAY we wrote, "Try to buy WDAY as close to $260 as possible. Risk to $242 for now. Add on strength. The $288 area is our first target. The round number of $300 is next." Ideally, we would like to believe that traders used the price strength in November to sell. Let's check on the charts again.
In this daily bar chart of WDAY, below, we can see that prices have corrected lower the past three months. WDAY is trading below the declining 50-day moving average line and below the 200-day line. We can also see a bearish dead or death cross of these two indicators in the middle of February.
The On-Balance-Volume (OBV) line shows an uneven decline from November which tells us that sellers of WDAY have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line but is ready for a cover shorts buy signal.
In this weekly Japanese candlestick chart of WDAY, below, we see a mixed picture. Prices are in a downtrend below the 40-week moving average line. The latest candle pattern shows a lower shadow telling us that traders rejected the lows.
The weekly OBV line shows a decline from October 2020. The MACD oscillator is bearish.
In this daily Point and Figure chart of WDAY, below, we can see a potential upside price target in the $267 area.
In this weekly Point and Figure chart of WDAY, below, we used close only price data. Here the software is projecting a downside price target in the $153 area.
Bottom line strategy: I have no special knowledge of what WDAY will tell shareholders and analysts about their revenues and bottom line, but the charts suggest that we might see a recovery rally of sorts in the next few weeks. Investors should be patient and wait for a base pattern to form maybe from lower levels.
