Tuesday, September 27, 2016

Recommended, Top Performing Stock (6): Atlassian Corp

Atlassian Corp shares (NASDAQ:TEAM) are in a bullish mode, and in spite of the perceived volatility in the market. This month, price topped at 35.00 and retraced sharply. However, that resistance level would soon be breached and even exceeded.

4 EMAs are used for this analysis, and they are EMAs 10, 20, 50 and 200. All the EMAs are sloping upwards, showing there is an uptrend in the market.

Price may retrace into the EMAs 20 or 50, but it would go upwards again to go higher and higher. This bullish stance would be valid as long as price does not go below the EMA 200 (a Death Cross).

 Atlassian Corp should be going up within the next several months.                 

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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