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Software Growth Leader Setting up Breakout From Consolidation Flag

by | Jan 20, 2025

Atlassian (TEAM) shares of the software grower are curling higher and triggering a bullish MACD cross after testing the rising 55 day MA support near 240 and now looks poised to attack the highs as it tries to close back inside of monthly value. A move through 260 likely can see a swift rally towards 275 and then 285 as a higher target, all potentially ahead of earnings that are due out 1/30. TEAM continues to see bulls position for upside this quarter including the 12/26 massive buy of 7500 March $230 calls bought at $39 and still in open interest.

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