TEAM is way overdoneTEAM is at the top of the keltner channel here and can't get through, I think a major correction towards $55 is starting soon.
TEAM trade ideas
$TEAM ORDERLY PULLBACK TO 20DMA
EASY TO MANAGE SPOT
DON'T LIKE VOLUME PROFILE
DON'T LIKE HIT HI AND CLOSED RED
RED M, W, D CHART
RISKY TRADE BUT OVER 93.50 COULD MOVE
New trader looking for insightI am new to the stock trading game and I picked the absolute wrong time to get in on Atlassian shares, so if anyone has information on what's going on or what to expect, it would put me at ease to know. To my inexperienced eye, it appears that recent rises in share price occurred due to a speculative bubble which burst when the company reported average sales and it was undervalued by Morgan Stanley. Should I expect the trend to return to its original form, outlined by the green line, or will it keep going down?
WathSince it closes within the triangle, the story is different. It should move within the range and wait for more clue of directions.
Atlassian - Rising Channel Atlassian ($TEAM) a relatively recent IPO, reports it's second earnings call after the bell 5/5/16. $TEAM has been basing the last couple of months, rising in channel while volume has been decreasing, creating a solid base to move higher from. A solid earnings report should allow for movement higher.
Recent contract with Uber won't factor into revenues or EPS yet, but should obviously help guidance. As investors become more familiar with Atlassian and their products ( Jira, HipChat, Bitbucket) dont be surprised to see increased inflows. #GetLong
