TEAM trade ideas
TEAM – Bullish Weekly Trend Incoming + EarningsNot currently in this trade but will be entering Monday. Stop loss $118. I will update if filled.
Trade Entry
Jan. 31 expiry. Put Credit Spread. $2.60 credit or more. Max loss $240. Max gain $260.
Total probability of profit on this trade is only 56%. Low. EMA Cross, 10WeekMA cross, and earnings are reasons for entry.
Close before expiry at 50% profit or greater. Looking to exit after earnings. If earnings are positive and no price spike, hold while collecting theta and waiting for price spike.
Chart Details
Chart is almost entirely bullish.
Weekly trend about to turn bullish. There is positive price action every time this happens.
Bullish EMA cross and bullish 10WeekMA cross are very close at $125.
Options entry above takes advantage of moving average price crosses and earnings combo.
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$TEAM Breakout Expected to the upside?Symmetrical Triangle formation, expecting a major breakout to the upside.
Waiting on breakout/downWeekly inside candle, multiple retests of channel. Price looks very compressed. Calls over 123.30, puts under 117.79
$TEAM Nice Triangle and breaking up...$TEAM has formed a nice triangle. I'll wait a day or two before going long just to make sure it's not a head fake... Patience... this will have a ways to run once it gets going. Of course, if it reveres it negates the set-up... ideas, not investment advice.
TEAM updateWe were long on 125c from last Friday, hit top trendline resistance, will wait for another entry or for stock to clear trendline. Then gap fill above
$TEAM Atlassian on verge of breakout from downtrend. Cloud stocks are finding some love again and staging a reversal. TEAM is showing signs of breaking from its current downtrend with $127-129 as a possible entry level.
Volume is bullish and increasing.
RSI on verge of breaking resistance.
$149 average analysts price target| Overweight.
7.2% short interest.
Upgrade details 28th Oct
Bank of America upgrades Atlassian (NASDAQ:TEAM) from Neutral to Buy with a $135 price target, citing "an enhanced buying opportunity" after the recent selloff that has shares down 22% since an August high.
Analyst Nikolay Beliov says the company has a "best of breed business model" and sees TEAM as better positioned than its peers to survive macro slowing.
The analyst calls TEAM's 30% FCF margin and revenue growth "appealing" in a low interest rate environment. Source SeekignAlpha.
Atlassian has an Outperform average Sell Side rating.
Company profile
Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include JIRA software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage. The company was founded by Michael Cannon-Brookes and Scott Farquhar in 2002 and is headquartered in London, the United Kingdom.
TEAM LONGThe pro's of being stuck at a conference all week at work and away from the charts. May have missed the entry here, but will see how how the next few days play out. Would like to see choppy sideways/slightly downward movement towards the longer upward trend line. If I get this, I'll start a position with my stop just slightly below it's last strong upward movement. Depending on it reacts to its longer term upward trend line will decipher if we look for a simple backtest of previous support/now resistance or we shoot for something higher.
**Please trade at own risk**
$TEAM Is A Swing Trade After Holding Key Support $TEAM held the key support level of $120 during yesterday's $WDAY selloff. The 200-day moving average of $120.32 held as the low for the day was $120.41 a share. We expect a strong bounce over the next few days as a swing trade.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company’s products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams. Its products also comprise Bitbucket, a code management and collaboration product for teams using distributed version control systems; and Jira Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams. In addition, the company offers Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions; Jira Align that enables enterprise organizations build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and other tools comprising Atlassian Access, Bamboo, Crowd, Crucible, Fisheye, Jira Portfolio, Sourcetree, and Statuspage. Atlassian Corporation Plc was founded in 2002 and is headquartered in Sydney, Australia.
As always, trade with caution and use protective stops.
Good luck to all!
TEAM - top?It's been a fabulous ride for holders of stocks in this company. However, I read an article concerning how the founders of this company have been selling a lot of their stock in since the beginning of the year and produced this as a possible wave count (calling tops usually leads to egg on faces).
Long Callsupport is around 120, but this is very much in the channel with good fundamentals.
would test 137 is what i would like to see
TEAM bullish GartleyBullish Gartley + bullish divergence playing out on TEAM. Possible targets are the 0.382 of CD at $130 and the 1.618 CD at $162.68.
$TEAM Six red days in a row Watching for a bounce tradeBig support at 123 Needs to set up cant randomly jump in reds like this
$TEAM $134.51 Chart is about to go on strike too #TEAMIf your co. chart looks like this......prolly not the best idea to encourage your employees to strike in the fight for climate change...im just sayin
$TEAM:NASDAQ - ATLASSIAN- Strong run. Up 400%Atassian has had a great run since its debut on the stock market and is up now a bit over 400%. They have closed out a record year and are on track to pull in around $1.5B revenue for use of their products. Could be worth a watch.
Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications. JIRA allows teams to organize their work into projects and customize dashboards for those projects to keep their teams aligned and on track. Confluence provides a system for organizing, sharing and securing content in spaces arranged by team, project, department and others. The Company also offers additional tools for software developers, such as FishEye, Clover, Crowd, Crucible, Bamboo and SourceTree.
$TEAM looking for a bounce trade between 135-130 after a few days of seeling off from highs looking for a bounce in this Would like closer to 130
