TEAM | Double Breakout Signals a Long-Term Trend ReversalAtlassian Corp Class ABATS:TEAMibraheeemzAfter a prolonged correction, Atlassian (TEAM) is showing one of the strongest technical recoveries in the software sector. A powerful post-earnings rally has triggered two major breakouts simultaneously—breaking above the long-term downtrend while reclaiming the Round Bottom neckline, signaling a potential shift from a bear market into a new structural uptrend. 📈 Technical Outlook 🟢 Post-earnings double breakout confirms improving momentum. 🟢 Long-term trendline broken, ending a multi-year sequence of lower highs. 🟢 Round Bottom neckline reclaimed, reinforcing the long-term reversal thesis. 📍 Immediate resistance: 140. 💡 Preferred entry: Either a healthy consolidation above 140, or an ideal pullback to fill the earnings gap around 110–120, where buyers may step back in. 🎯 Target 1: 165 🎯 Target 2: 185 🚀 Long-term target: 220+, with further upside possible if the broader software sector continues to strengthen. 💼 Fundamental Tailwinds Atlassian continues to benefit from several long-term growth drivers: ☁️ Cloud migration remains the primary catalyst, with more enterprise customers moving from on-premise products to recurring cloud subscriptions. 🤖 AI-powered productivity tools are expanding across Jira, Confluence and the broader Atlassian platform, improving customer engagement while increasing monetization opportunities. 📈 Enterprise adoption remains strong as organizations consolidate software development, IT service management and collaboration workflows onto a single ecosystem. 💰 The company maintains a healthy balance sheet, robust free cash flow, and attractive long-term margins—providing flexibility to continue investing in AI and product innovation. 🎯 Investment Thesis This isn't simply a breakout—it's a potential long-term trend reversal If price successfully holds above the reclaimed breakout levels, the recent move could mark the beginning of a new accumulation phase rather than the end of the rally. Sometimes the best trades aren't those chasing the first breakout—they're the ones patiently waiting for the market to retest support before the next leg higher. Watch 140 closely. Holding above it would demonstrate strength, while a controlled pullback into the 110–120 buying zone could offer an attractive risk-to-reward entry before the next advance toward 165, 185, and ultimately the 220 region.