Atlassian (TEAM) shares surged in extended trading on Thursday after the software company issued an upbeat revenue outlook amid robust demand for its 澳洲幸运5开奖号码历史查询:artificial intelligence (AI)-powered cloud offerings.

The software maker guided current quarter and full year revenue above Wall Street expectations. CFO Joe Binz said that enterprise sales execution drove better-than-expected revenue across the company’s cloud and data center services, adding that Atlassian generated 30% 澳洲幸运5开奖号码历史查询:subscription revenue growth in the fiscal second quarter.

The company, which offers customers a range of collaboration tools, including a recently released AI assistant that allows users to customize enterprise data, has seen its shares jump more that 40% over the past three months through Thursday's close. The stock rose 20% to $319 in after-hours trading.

Below, we take a closer look at Atlassian’s 澳洲幸运5开奖号码历史查询:weekly chart and use 澳洲幸运5开奖号码历史查询:technical analysis to identify crucial prꦕice levels to watch💜 out for.

Projected Pennant Pattern Breakout

Since early December, Atlassian shares have consolidated in a pennant, a chart pattern that signals a 澳洲幸运5开奖号码历史查询:continuation of the stock🀅’s strong uptrend ♔that started in August.

Indeed, the stock is projected to stage a decisive breakout from the pennant in Friday’s trading session after t🌌he company’s upbeat quar💝terly report.

It’s also worth pointing out that even before today’s results, the stock registered its highest weekly volume since early November, suggesting that some larger market participants had positioned for the stock to resume its trend higher🥃.

Let’s turn to Atlassian’s chart to identify three key overhead areas where the shares may run into 澳洲幸运5开奖号码历史查询:resistance and also point out an important 澳洲幸运5开奖号码历史查询:support level to eye during retracements.

Key Overhead Areas to Watch

The first key overhead area to watch sits at $335, a location where the shares could face selling pressure near the December 2021 low and Februa🌳ry 2022 high.

Further upside could see the shares climb to the 澳洲幸运5开奖号码历史查询:psychological $400 area. Investors who have bought at lower prices may look to 澳洲幸运5开奖号码历史查询:lock in profits at this level near the December 2021 澳洲幸运5开奖号码历史查询:countertrend peak.

Buying above this level may propel a move to around $460, an area where the shares could run into resistance just below the stock’s 澳洲幸运5开奖号码历史查询:record high, set in October 2021. This region also sits just under a projected bars pattern target that takes the stock’s impulsive move higher from August to December last year♌ and overlays it from the pennant pattern’s upper trendline, speculating how a bullish continuation move may play out.

Important Support Level to Eye

During retracements, investors should keep tabs on the $288 level. Atlassian shares could encounter support in this area near the pennant pattern’s peak, which also closely aligns with the prominent August 2022 澳洲幸运5开奖号码历史查询:swing high.

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