Could TEAM Breakout From Here?

by | Jun 23, 2020 | Dark Pools | 0 comments

Man, is the market strong at these levels…

With stocks continuing to rage, I’ve noticed there’s been lots of dark pool activity…

And thanks to the proprietary scanner I use, I’ve picked up on a few names that seem interesting to me.

This morning, I sent out my watchlist to subscribers

One of those stocks was Atlassian Corporation PLC (TEAM).

The dark pool activity I noticed in the stock was compelling… and when I looked at the charts…

I realized this stock could break out.

So what am I noticing in TEAM

And how do I want to play it?

 

Dark Pool Activity And Charts Signaling Bullish Move In TEAM

 

Yesterday, I noticed TEAM on my dark pool activity scanner.

Here’s what I saw…

 

As you can see from the order above, someone spent 71 million dollars on the stock.

Do they think TEAM can break out…

Do they know something we don’t?

Who really knows…

When I looked at the daily chart in TEAM… I noticed a bullish pattern.

 

Source: thinkorswim

 

On the daily chart, TEAM is forming a bull flag pattern and is trading at the top of the range. Now typically, this pattern signals a stock can break out and continue higher.

The thing is… that’s not the only bullish signal I noticed.

The TTM Squeeze is in play too.

What’s the TTM Squeeze?

Well, with the stock consolidating right now… the TTM Squeeze actually can help to identify potential breakout opportunities.

Pairing this with the chart pattern, it tells me TEAM can get above recent highs very soon.

If you look below the price chart, there are bars.

The zero line is very important here.

Why?

For me, I’m looking for a break above the zero line… if that happens, that means there’s positive momentum in the stock.

I’m anticipating that in TEAM… and if it does happen, there can be a lot of demand for TEAM… and shares can get to $200.

Right now, the options are expensive… so I may look to get shares.

I’ll be sure to let my subscribers know if I make any moves in TEAM.

 

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