Atlassian Corp. - (TEAM) - August 27, 2021 

Atlassian Corp. (TEAM) is an Australian Software Company that develops products for software developers and project managers. The company IPO'd on the NASDAQ in 2015 and has not looked back with a current market cap of 88.7B. Shares of TEAM have moved up 68 spots over the past quarter and 18 spots over the past month within the NASDAQ 100 SIA ranked Index Report. The company currently is ranked 3rd within the report with the shares up 33.59% since entering the Green favored zone back on June 21st, 2021. On June 29th, 2021 Atlassian blew away its earnings estimate of

-0.087 and reported 0.24 earnings per share (EPS). The stock gapped up 16% at the open and has continued to show strength to the upside since then. Breaking out of minor resistance that formed at the $340 level which now acts as an initial support level and below that at the $326 area. Major long term support can now be found at the $250-$260 area where prior highs had been broken as well as the area where the earnings gap open occurred.

Based on Fibonacci extension levels if the initial area of support holds at $340, potential levels of next resistance appear at $378.50 (161.8%) and $411.66 (261.8%).

Atlassian Corp. (TEAM) shares have been stair stepping their way up making higher highs and higher lows since it began trading on the NASDAQ in 2015. Recently, When looking at the 1% Point & Figure chart following a 4% reversal in early August shares have advanced 7% into the end of the month and completed a bullish double top pattern when an X printed above the $344.38 area.

A vertical count suggests next potential resistance may appear near $376.64, followed by the $400.00 round number. Initial support appears near $337.60 based on a 3-box reversal, followed by the recent lows of $324.42

With a bullish SMAX score of 10, TEAM is exhibiting strength against all the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.