RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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On Friday, Atlassian Corporation Plc stock price gained an impressive 18.99%
(Updated on Nov 01, 2024)

Buy or Hold candidate since Oct 09, 2024 Gain 26.68%

The Atlassian Corporation Plc stock price gained 18.99% on the last trading day (Friday, 1st Nov 2024), rising from $188.54 to $224.35. During the last trading day the stock fluctuated 6.74% from a day low at $214.69 to a day high of $229.16. The price has been going up and down for this period, and there has been a 17.03% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $2.15 billion.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $204.49, a level that may pose a second chance to hit a runner. According to fan-theory $226.00 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

TEAM Signals & Forecast

The Atlassian Corporation Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $194.54 and $177.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, September 17, 2024, and so far it has risen 43.98%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Atlassian Corporation Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at $194.00 and $189.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Atlassian Corporation Plc finds support just below today's level at $194.00. If this is broken, then the next support from accumulated volume will be at $189.35 and $188.54.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $14.47 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 3.11%.

The Atlassian Corporation Plc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $216.54 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (TEAM) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect Atlassian Corporation Plc to open at $222.73, and during the day (based on 14 day Average True Range), to move between $216.51 and $232.19, which gives a possible trading interval of +/-$7.84 (+/-3.50%) up or down from last closing price. If Atlassian Corporation Plc takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $194.00, some $30.35 (13.53%) from the current price of $224.35, our system finds the risk reward attractive.

Is Atlassian Corporation Plc stock A Buy?

Atlassian Corporation Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

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Predicted Fair Opening Price

Predicted fair opening price on November 4, 2024 - $222.73 ( 0.721%).

Trading levels for TEAM

Fibonacci Support & Resistance Levels

Level Price
R3 237.20 5.73%
R2 231.68 3.27%
R1 228.26 1.74%
Price 224.35
S1 217.21 -3.18%
S2 213.79 -4.71%
S3 208.26 -7.17%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0 -
R2 0 -
R1 0 -
Price 224.35
S1 194.00 -13.53%
S2 189.35 -15.60%
S3 188.54 -15.96%

FAQ

What is the symbol for Atlassian Corporation Plc Stock and on which exchange is it traded?
The symbol for Atlassian Corporation Plc is TEAM and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Atlassian Corporation Plc Stock?
Atlassian Corporation Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Atlassian Corporation Plc Stock?
Atlassian Corporation Plc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Atlassian Corporation Plc Stock.

What's the current price of Atlassian Corporation Plc Stock?
As of the end of day on the Nov 01, 2024, the price of an Atlassian Corporation Plc (TEAM) share was $224.35.

What is the 52-week high and low for Atlassian Corporation Plc Stock?
The 52-week high for Atlassian Corporation Plc Stock is $258.69 and the 52-week low is $135.29.

What is the market capitalization of Atlassian Corporation Plc Stock?
As of the Nov 01, 2024, the market capitalization of Atlassian Corporation Plc is 49.812B.
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ABOUT ATLASSIAN CORPORATION PLC
Atlassian  Plc
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise ...
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