Both Workday (WDAY) and Splunk (SPLK) reversed hard after announcing earnings in the latter part of the week, and both can be considered late-stage failed-base short-sale set-ups. If the general market gets into trouble these would likely move lower, and the stocks would be shortable at current levels or higher on any potential bounces, using the 70 breakout level for SPLK and the 20-day moving average at 88.51 for WDAY as upside stops. Rallies up into these price levels would likely present the most optimal short-sale points vs. chasing these to the downside.
SSS - WDAY, SPLK 3/2/15
| Published: | 2 Mar 2015 13:35 ET |
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