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Shares in collaboration software maker Atlassian (TEAM) will remain in focus on Monday following last week’s gain of 9%.

Still, the company's shares trade down more than 35% on the year, with the price plumbing a 52-week low earlier this month after the company issued a soft revenue outlook below Wall Street estimates and announced the departure of Chief Sales Officer Kevin Egan. However, the stock's recent momentum shift suggests concerns over sales growth and executive changes may be mostly baked in the cake.

Below, we analyze Atlassian’s chart and turn to technical analysis to identify key price levels that investors will likely be watching.

Since recording its 2024 high in January, Atlassian shares have traded within an orderly descending channel, a chart pattern that indicates a downward trend, but can also signal a trend reversal upon a breakout.

More recently, the stock has climbed around 14% from its recent post-earnings 52-week low, registering four consecutive days in the green between Tuesday and Friday last week. 

The stock gained 5% on Friday to finish at $154.21.

Looking ahead, investors should monitor three key higher price levels that Atlassian stock could test amid strengthening price momentum.

The first sits around $168, an area on the chart that finds a confluence of resistance from the prominent November 2023 swing low, the channel's upper trendline, and the downward sloping 50-day moving average.

A move above this level could see the shares test $187, where they may encounter selling pressure near a trendline joining multiple peaks and troughs from February last year to July this year.

Ongoing buying could fuel a move up to $215, a location where sellers may be happy to take profits near a horizontal line linking three peaks that formed on the chart between September 2023 and April.

Despite the recent bullish price action in the stock, it’s also worth monitoring several important support areas.

An initial retracement from current levels could see the shares revisit the $130 area, a region where they may attract buyers seeking entry points situated around the May 2023 swing low.

A failure to hold this level raises the possibility for a retest of $116 near the channel's lower trendline, where the price would likely find major support from three key troughs that formed on the chart between November 2022 and January 2023.

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The National Drug Law Enforcement Agency (NDLEA) has proposed that universities should require newly admitted students to undergo mandatory dr¥g tests as part of their admission process.

The NDLEA’s Commandant, Kwara State, Hajia Fatima Abiola-Popoola, who made the proposal said that this would “Serve as a preventive measure while offering early intervention and counselling for those already using dr¥gs to prevent them from becoming problematic users”.

According to DailyTrust, Hajia Abiola-Popoola while speaking during a radio programme in Ilorin, expressed concern over the rising number of dr¥g users in the country, particularly among females.

She warned that this trend poses serious risks to families and society at large.

“A 2018 survey shows that 14.3 million people were using dr¥gs in Nigeria. One out of 7 persons in Nigeria is a dr¥g user and one out of 4 dr¥g users is a woman.

This shows that the society is in trouble because a woman is the administrator of the home,” she said.

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As a doctor, I am constantly advising my patients to prioritize their own mental and physical health. Get adequate sleep. Eat healthy. Learn how to say no so you don't collapse from exhaustion. Love and care for yourself like you do others.

I talk the talk but don't always walk the walk — even though I know, both intellectually and physically, that self-care is critical to my well-being. When I am run down, my MS symptoms cry out for attention: left leg weakness and numbness, subtle vertigo, a distinct buzzing in my brain like a relentless mosquito that won't go away no matter how many times I twitch and shake my head. I have become frighteningly good at ignoring these symptoms, boxing them up and pushing them away. Often, I can muscle through; other times it just hurts.

Recently, a friend challenged me to think about my relationship with my illness, to describe MS as a character in my story. This was a useful exercise. I conjured up an image of a stern teacher. She is frighteningly blunt and lets me know, loud and clear, when I disappoint her. She can be mean and scary, and I don't really like her. But I must admit she is usually right. Still, I often defiantly dismiss her, even when part of me knows this is not in my best interest.

This holiday season, I wanted to do better. I needed to do better. So, as Thanksgiving approached, as I prepared to host 16 family members, many for multiple days, I paused to ask myself, What does MS have to teach me about self-care? I don't like having this disease, but I do. I can't change my reality, so I might as well benefit from the lessons MS is forcing on me. I believe they are relevant to all of us, whether we live with chronic illness or not, so I'll share them here.

The first steps: Listen and observe

When my MS symptoms flare, it's a message that I am tired, overextended, and stressed. I need to rest. I don't always listen right away, but eventually I am forced to, and when I listen, I feel better. All of us can benefit from slowing down and tuning in to our physical selves. What sensations are you experiencing in your body, and what does this tell you about your underlying feelings and state of mind? Yes, we should heed our thoughts, but tuning in to our bodies takes us deeper, to feelings that might be hidden, secrets we might not want to acknowledge, a physical truth. If you don't have a chronic illness, the messages might be more subtle — a vague tightness in your chest, a quick catch in your breath, a barely noticeable tremor in your hands — but they exist, and they signal stress.

The science is clear: the body's stress response — though potentially lifesaving in a true emergency, when "fight or flight" is essential to survival — can be toxic in our everyday lives. Stress triggers our sympathetic nervous system to kick into overdrive in response to a perceived threat, releasing hormones such as cortisol and inflammatory molecules that, when produced in excess, fuel disease. Conversely, we know that pausing to take notice and interrupting this negative cycle of stress is beneficial. It can be as simple as breathing deeply and counting to 10. Our bodies know what's up and let us know when we need to take care of ourselves. We must pay attention.

You are not responsible for everyone and everything

The holidays, essentially from mid-November through the end of the year, are a stress test we create for ourselves. The land mines are everywhere: more food, more drinking, more family dynamics, more unfamiliar (or overly familiar) surroundings. Personally, with my overinflated sense of responsibility, I experience a kind of dizzying performance anxiety every holiday season. I believe it is my job to make sure everyone present has a positive experience. For better or worse, I am someone who notices and feels the personal and interpersonal dynamics in a room. I sense and absorb even the most subtle discomfort, frustration, anger, shame, and insecurity, alongside the more upbeat emotions. Importantly, I also I feel the need to step in and make things better, to prop everyone up. It's exhausting. But MS reminds me of how absurd, and even egotistical, this is. In truth, I can't possibly care for everyone. Neither can you.

It helps to check our automatic thoughts. More than once on Thanksgiving Day, as the busy kitchen buzzed with activity and conversation, I intentionally stepped back and watched, reminding myself that I didn't have to hold the whole thing up. Even though I inevitably slipped back into hyper-responsibility mode, these moments of self-awareness impacted my behavior and the dynamic in the room.

It's okay to say what you need

To take full responsibility for my own well-being, I need to speak honestly and act with integrity. This means asking for what I need, clearly and without apology. Historically, I have been terrible at this in my personal life, burying my own needs in the name of taking care of everyone else's, even rejecting clear offers of help. "I'm good, I've got it," I might say, while simultaneously feeling bitter and resentful for having to do it all myself. This lack of clarity isn't fair to anyone. MS reminds me that I need to do better.

This year, when my guests asked me what they could bring, I took them at their word and made specific requests instead of assuring everyone that I had it covered. When my mother started banging around in the kitchen at 7 a.m. with her endearing but chaotic energy, asking for this and that pot and kitchen utensil so she could start cooking, I told her I needed to sit down and have a cup of coffee first. She would need to wait or find things herself. She was okay with that. Family dynamics can be entrenched and hard to change, but clear communication can set new ways of being into motion, one baby step at a time.

I still have a lot to learn, but I am making stuttering progress, learning to listen to my body and honor my needs while also caring for those I love, or at least trying. Undeniably, I experienced some post-Thanksgiving fatigue, exacerbated by my daughter's early-morning hockey game the next day, requiring a 4:30 a.m. departure. I felt it in my body — the familiar leg weakness, vertigo, and brain cobwebs — and, completely uncharacteristically, I took a nap.

Source: Harvard Health Publishing

President Bola Tinubu has reportedly given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies.

BusinessDay reports that the president approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow.

According to the report, the NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, referring to this as a “subsidy shortfall/FX differential”.

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

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Investors anticipate comments from Federal Reserve Chairman Jerome Powell and other central bank officials after positive economic data last week.

Presidential candidate Kamala Harris will speak at the Democratic National Convention on Thursday.

Retailers Lowe’s (LOW) and Target (TGT) will report earnings this week, while technology firms Palo Alto Networks (PANW) and Snowflake (SNOW) are also scheduled to release financial updates.

Market watchers will be focused this week on comments from Federal Reserve officials.

After economists analyzed inflation and retail data last week, many forecast the Federal Reserve would begin cutting interest rates in September. But so far, few Fed officials have confirmed that sentiment, with speakers last week providing vague details on the path of interest rates. 

Fed Chair Powell is expected to provide some clarity in his remarks Friday at the Jackson Hole Economic Symposium. The remarks are expected to be his first since the consumer price index (CPI) for July showed inflation fell to its lowest levels since March 2021, giving officials more evidence that price pressures have eased.

Earlier in the week, Fed Gov. Wallace, Fed Vice Chair Barr and Atlanta Fed President Bostic will speak. On Wednesday, the release of the July Federal Open Market Committee (FOMC) meeting minutes will provide details on members’ discussions about economic conditions in their July meeting.

Several large retailers will update investors on their earnings this week, following higher retail sales in July that surprised market watchers. A handful of tech firms are also scheduled to report earnings.

Hardware retailer Lowe’s will report on Tuesday, coming after May earnings showed consumers were buying fewer big-ticket items. 

On Wednesday, Target looks to turn around disappointing first-quarter sales figures. Big-box rival Walmart reported strong earnings the week earlier.  On the same day, Macy’s report comes after the company last month ended talks with activist investor groups that were seeking to acquire the troubled retailer. 

Discount retailers TJX Cos, the parent of TJ Maxx, and Ross Stores are also reporting this week. 

Palo Alto Networks’ report on Monday is expected to give investors insight into the strength of the cybersecurity industry, as the company is expected to show quarterly growth in both revenue and net income. On Wednesday, cloud data firm Snowflake looks to bounce back after it missed earnings estimates last quarter, despite growing demand for its artificial intelligence (AI) products. 

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A provision in a retirement savings law makes it easier to tap 401 (k) accounts for emergency spending without a penalty. That could help Americans who need cash in a pinch—if they're careful.

Retirement accounts are meant for long-term saving. Starting this year, though, some 401 (k) participants can withdraw up to $1,000 for emergencies. Typically, early 401 (k) withdrawals have a 10% penalty, but a provision in Secure 2.0, a 2022 law, does away with that. People will also have to pay ordinary income taxes on emergency withdrawals.

“It gives you access to some hardship funds during an emergency,” said Preston Cherry, a CFP and Founder of Concurrent Financial Planning. “There is no shame or judgment to take the money so you can address the life event at hand.”

First off, not all employers offer this option. In 2023, 32% of employers said they were definitely adopting or likely to adopt the $1,000 withdrawal provision, according to a survey by Alight Solutions, a defined contribution record-keeping firm.

And taking money out means less opportunity for the account to grow and to enjoy its built-in tax advantages: 401 (k) plan contributions are tax-deductible and savings grow tax-free, so you don’t owe taxes until you take retirement distributions.

"You're going to miss out on any growth” with an early withdrawal, said Chris Mankoff, CFP and Chief Portfolio Strategist at JTL Wealth Partners. “That really can harm your long-term retirement plan.”

Typically, if you tap your money early — before age 59 and ½ — you’ll have to pay income tax on your withdrawals plus a 10% penalty. You can avoid the penalty by taking a 401 (k) hardship distribution, which differs from the new Secure 2.0 provision because it requires workers to show employers that they have an immediate or heavy financial need to cover specific costs like medical expenses or disaster recovery.

According to a report by Vanguard, the percentage of people taking advantage of  hardship withdrawals ticked upwards between 2022 and 2023, rising from 2.5% to 3.6%. Nearly 40% of people said they were accessing their money early to avoid home foreclosure or eviction, while 32% said they were using it for medical expenses, the report found.

Workers can use the Secure 2.0 provision to secure funds to pay for any personal or family emergency expenses. 

"As opposed to other exemptions from 401 (k) where you can pull money out for [things] like medical expenses, this [provision] is pretty broad," said Scott Sturgeon, a CFP and founder of Oread Wealth Advisors.

Cherry recommends taking advantage of the Secure 2.0 provision only if you have no other options. He also notes limits on the number of early withdrawals people can take under the Secure 2.0 provision: You can only take one withdrawal per year, but only if you pay it back within the next three years. If you don't pay the withdrawal back, you can’t take another withdrawal during that three-period. Your balance must also be at least $1,000 after the withdrawal.

Emergency funds are another option for those who can save the cash. Cherry encourages people to try to save three or six months of expenses. "It’s customizable [based on] your household,” he said.

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