Atlassian stock rallies 44.7% post-earnings, eyeing $121.46 target amid bullish trend setup

Atlassian's stock surged 44.7% to $96.32 following its strong Q1 2026 earnings report, signaling a bullish trend reversal above key resistance levels. The stock is currently consolidating in a bull flag pattern near its 20-day moving average, with dynamic resistance close to the 100-day moving average. If Atlassian breaks above the recent high of $96.32 and reclaims the 100-day moving average, the next upside target is projected around $121.46, supported by technical indicators including the 200-day moving average. This setup suggests continued momentum and potential for further gains in the near term.