TEAM: Not Quite Dead After AllAtlassian Corp Class ANASDAQ:TEAMHKCM_GlobalWhat Has Happened? Since our last update, Atlassian shares have seen a noticeable pullback, which the stock used to gather fresh momentum to the upside. While the bullish momentum has eased somewhat in the meantime, our primary expectation remains for further gains. Primary Scenario In our primary scenario, we see TEAM in a sustained bullish trend, with the stock expected to continue advancing step by step as part of the ongoing upward impulse. The next top should form within our red target zone (coordinates: $245.85–$270.05), after which we expect a noticeable corrective move to the downside. Alternative Scenario In our alternative scenario, TEAM would already be further advanced within the ongoing upward impulse and would imminently break below the support level at $159 without first forming a top within our red target zone (coordinates: $245.85–$270.05). However, while still clearly above the lower $80 level, the stock would then turn back to the upside and resume its advance (probability: 33%). Broader Outlook The daily chart confirms our view that Atlassian remains in a broader uptrend, which should continue to unfold in stages and eventually extend above the resistance level at $483.13, taking the stock to new all-time highs.