Workday (WDAY) shares are gaining ground today as investors rotate back into software stocks amid changing sentiment around artificial intelligence. Calls from several prominent technology executives for a slower, more cautious pace of AI development have eased some of the fears that AI could rapidly disrupt traditional enterprise-software companies. Workday is also continuing to receive support from last month’s report that private-equity firm Silver Lake has held discussions about potentially acquiring the company. Those talks remain uncertain and no deal has been announced, but the possibility of a buyout continues to provide an additional catalyst for the shares.

Take a look at the chart and the targets for the next price movement:

WDAY is up roughly 4% this afternoon, trading near $193 after recently finding support in the $185 area. Today’s advance has pushed the shares back above the short-term 8-day EMA near $191, while +DI remains above -DI and ADX near 32 indicates there is still meaningful trend strength. The PPO remains below its signal line, however, showing that momentum has not completely confirmed the rebound. A sustained move through approximately $195-$200 would strengthen the bullish picture, with the $205-$210 area providing the next notable resistance zone. For now, today’s combination of fresh buying, improving price action and a clear news catalyst makes WDAY one to watch for additional upside.

Wishing you the best,

Wendy

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