Workday (WDAY) shares soared 11% in extended trading Thursday after the human resources and capital management software provider reported quarterly results that topped estimates and pointed to growth opportunities in international markets.

The company’s stock, which is down around 25% from its record close through Thursday’s trading session, has come under investor scrutiny this year over concerns that enterprise customers have trimmed spending on premium software 澳洲幸运5官方开奖结果体彩网:subscription services amid 澳洲幸运5官方开奖结果体彩网:macroeconomic uncertainty.

Below, we'll take a closer look at Workday’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to identify key price levels to watch out🔥 for after the company’s upbeat repo🃏rt.

Double Bottom Breakout

Workday shares have carved out a 澳洲幸运5官方开奖结果体彩网:double bottom between June and August, a well-known chart pattern that indica☂tes an upside reversal after an extended downtrend.

Moreover, as the formation’s second bottom made a lower low, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) indicator formed a comparatively shallower low to create a 澳洲幸运5官方开奖结果体彩网:bullish divergence, a technical signal suggesting easing s🉐elli⛦ng momentum. 

More recently, the stock’s price has reclaimed the 50-day moving average and sits positioned to breakout above the double bottom’s neckline on Friday.

🐽 The stock gained 11% to $256.65 in after-hours trading Thursday.

Monitor These Price Levels Amid Post-Earꦗnings Strength

Following 🍃Workꩵday’s expected post-earnings pop, investors should focus on three key price levels.

The first sits near $264, an area on the chart that could encounter overhead 澳洲幸运5官方开奖结果体彩网:resistance from a trendline connecting three troughs that formed between December and March with a late May 澳洲幸运5官方开奖结果体彩网:countertrend peak.

Further upside may see the shares climb to the $279 region, where they could run into selling pressure near a 澳洲幸运5官方开奖结果体彩网:horizontal line linking a range of comparable trading levels from December to March, one of which includes the opening price of a prominent 澳洲幸运5官方开奖结果体彩网:stock gap in early March.

Finally, a more signif💝icant move higher could drive a rally up to $306, a loc🏅ation likely to attract attention around the stock’s late February record close.

It’s also worth pointing out that this area roughly aligns with a bars pattern 澳洲幸运5官方开奖结果体彩网:price target when taking the𓄧 up-trending move from September to February and positioning it from the double bottom’s low. Interestingly, that prior 🐽move started following a gap lower, similar to the stock’s recent advance, which commenced after the Aug. 5 broad market sell-off.

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