Trading Options with an Edge
Select Page

TEAM Post-Earnings Gap Bull Flag

TEAM Post-Earnings Gap Bull Flag

by | Aug 18, 2021 | Chart SetUps

Atlassian (TEAM) narrowing range after the gap higher in late July on earnings and now being pressured by the rising 8-EMA as well, setting up for a breakout and run above $341.50. A move higher targets $350 and then a measured move to $385. TEAM is coming off a strong quarter with customer adds and accelerating cloud migrations driving upside.  TEAM has size in the September $35 calls while the December $290 and $390 calls with buyers recently too.