Workday - Expected to report an EPS of $1.47 on revenue of $1.92bn

Workday is scheduled to report earnings on Monday. Analysts forecast an EPS of $1.47 on revenue of $1.92bn. Currently, its shares are trading at around $307.05 a share. Looking at the weekly chart, it has approached a key resistance level now. The resistance reads $307.44, which is also its previous all-time high. We can see so far it has been struggling to overcome this resistance, a break and close above it would see fresh highs and perhaps a build of momentum in the near term for a push higher towards $320-$330. Support lies at $294.76 then at $290.59 and then at $284.66. A break below $284.66 could then lead to a pullback lower to maybe even re-test the support of $263.95 Looking at the technical indicators, the MACD is still positive and so is the RSI. However, they are both suggesting overbought conditions.  Therefore, anything but a positive earnings outlook could see short-term profit-taking and selling pressure here.