Long Position on TEAM @ $64.00 on 6/4/2018 (Momentum)

Atlassian Corporation Plc (TEAM) designs, develops, licenses, and maintains software, as well as provides software hosting services worldwide.

The company offers JIRA, a team planning and project management platform; Confluence, a team content creation and sharing solution; HipChat, a team messaging and communications tool; and Bitbucket, a team code sharing and management software, as well as JIRA Service Desk for team services and support applications. Its products enable teams to organize, discuss and complete shared work.

Shares have formed a bullish "cup and handle" and higher share prices are expected. We expect shares to head higher from present levels. The formation is supported by the stock's 50-day moving average shown in brown. The company reports its results on or about July 26th.

52-Weeks Trading Range:  $32.58 - $66.00

Entry Point: $64.00

Stop Loss: $60.50

Target Price: $70.40

Updates

7/27/2018 9:49:52 AM

TEAM closed at $78.17.

Position closed on 7/27/2018 at price of $78.17 with a 22.14% gain in 53 days.

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