When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Atlassian now meets that criteria, with a jump from 66 to 83 Thursday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating tracks share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they begin their biggest runs.
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The stock, which is on the IBD Big Cap 20 , is working on a consolidation with a 188.67 entry. See if the stock can clear the breakout price in heavy trading.
While the company's top line growth fell last quarter from 27% to 24%, earnings-per-share grew 26%, up from 5% in the prior report.
Atlassian stock earns the No. 9 rank among its peers in the Computer Software-Special Enterprise industry group. HubSpot and Integral Ad Science are also among the group's highest-rated stocks.
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