A Discounted View

Atlassian Corp (TEAM) had its initial public offering (IPO) in December 2015. Since that time the price has displayed interesting behavior from a long perspective . During the beginning of 2016 TEAM declined rapidly along with the rest of the market  as global economic fears were pervasive among market participants. Since that decline, TEAM found support  in early February 2016 as seen by the two reversal candlesticks  on the weekly chart.  The weekly reversals in price  were accompanied by an increase in volume both weeks which indicated that $20 is a meaningful level of support  from a weekly bar perspective. In mid-May 2016 TEAM formed a higher low around $22 and also exhibited a reversal candlestick at this level. Upon clearing prior resistance  in June 2016 volume accelerated again for four weeks indicating conviction in the move higher . Zooming in one order of magnitude shorter, the daily chart shows that after the breakout out above previous resistance between

The price of ResMed Inc. (RMD) recently broke out of a resistance barrier on multiple timeframes. First, the monthly chart shows a clear break of resistance near the $60 level. Historically, this behavior in RMD and other stocks is constructive for a long set up . You can see from the past 10 years of monthly price data that RMD has a tendency to trend, consolidate for a while, and then trend again . At the point of breakout, a long position was unconfirmed by MACD, a trend indicator , but with further price improvement it exhibited a bullish crossover. Additionally, comparing RMD’s lows in its most recent range bound consolidation with MACD-H confirms its advance leading up to its breakout. Second, after zooming in one order of magnitude  shorter to the weekly time frame you can see a more granular view of the breakout from the monthly chart. From a trend perspective  we now see the price above its 40-week moving average ( 200SMA ) and a fairly consistent bottom left to t