TEAMD trade ideas
Atlassian Corp $TEAM$TEAM is very close to break out. It is just below $191.72. Watch for a breakout with heavy volume to be long
12 months Consensus Price Target: $172
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TEAM on watchLong in and above box. Short below box or wait for pull back long entry from lower targets.
High probability trend continuation in TEAM- Coming off 50 Day moving average
- Exiting pennant
- Breakout on a 3 day weekend (Only strong hands hold over long weekends)
Long term chart...
TEAM closer to 50 Days MA supportIBD rating of 99. Tighter stop than usual, lots of volatility in the market.
This one should do well even on a second wave of COVID 19, software for teams collaboration.
Long @ 177.22
ATLAASSIAN CORPORATION PositionHello traders, ATLAASSIAN CORPORATION has taken off from its bullish slant, refusal of buyers if we break the first trend line we could break the consolidation zone to get its previous high.
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$TEAM Atlassian shows weakness short term $144Not enough followup to yesterday's rebound from $160.
Expecting $TEAM to slowly grind down in the next weeks.
Buy at $144
Atlassian - Defy The Gravity Because It BenefitsAtlassian is still cheap and very small compared to its competitor like Microsoft. Atlassian will be another stock that people wish they bought especially during this corona crisis.
Head & Shoulder Pattern for Remote WorkersWhat 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
TEAM is dealing with an important resistant TEAM is dealing with the resistance around 156, If it can break it, the RSI will be in overbought and it can go like a charm, otherwise, it will face to RSI divergence!
TEAM Fibonacci Scythe and StaircaseTight price range with the 'Fibonacci Scythe' that has formed which can be seen around the price area.
Staircase price action can also be observed
TEAM One of the the few strong stocks leftLike TEAM long above the box and short below. Targets are dotted black lines.
Inverse Eve and Eve double top correctionExample of an inverse Eve and Eve double top correction, like an Eve and Eve double bottom which is a bullish reversal pattern, simply the opposite! A correction can be already seen to be underway.
