Head & Shoulder Pattern for Remote Workers
What I see
+ Prices retraced to mid-March low and rebounded strongly to the neck line
+ Right shoulder formed after prices rebound from April low
+ Price has gone up ~20% for the year, not a bad performer during CV-19
+ With all the work-from-home workers scattered around the world, Atlassian provides the software tool that these companies need to allow the workers to work remotely.
- Earning call in 2 days; typically would avoid
Setup..
Entry - tight entry to get into position early
Target - $200 - round-number resistance - but will setup trailing stop to let it run
Stop - A lose Stop range in anticipation for volatility around earning
+ Prices retraced to mid-March low and rebounded strongly to the neck line
+ Right shoulder formed after prices rebound from April low
+ Price has gone up ~20% for the year, not a bad performer during CV-19
+ With all the work-from-home workers scattered around the world, Atlassian provides the software tool that these companies need to allow the workers to work remotely.
- Earning call in 2 days; typically would avoid
Setup..
Entry - tight entry to get into position early
Target - $200 - round-number resistance - but will setup trailing stop to let it run
Stop - A lose Stop range in anticipation for volatility around earning
Trade active:
+ Gap up to above entry level
:: Earning in 3 days
:: Maintaining Stop as volatility is anticipated
- Pulled back to end the day in the red
- Long upper shadow
:: Earning in 3 days
:: Maintaining Stop as volatility is anticipated
- Pulled back to end the day in the red
- Long upper shadow