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Atlassian Corporation Plc ( $TEAM ) is one of the best stock to buy and offering possible buying price between $132.97 – $139.62, as of June 26th, 2019. Let’s look at the stocks technical actions using a weekly chart.
2. The stock had a great run early this year.
3. Then it went into consolidation for few weeks, and even lost the 50 day moving average support, before it quickly recovered it.
4. Then the stock staged a solid breakout on huge volume.
5. Then the stock went to another consolidation.
6. The accumulation volume is also heavier than the distribution.
7. The stock found support at the 50 DMA throughout this period.
8. The potential buying price would be $132.97 – $139.62 with a stop loss at $122.33.
