ULTA is clearly overbought at this point in time. Now is certainly not the time to go long on this equity.
Key Points:
1. Overly bullish sentiment
2. RSI on weekly is around 85 - probably the highest in it's history.
3. RSI on daily has been hovering dangerously around 80 for quite some time.
4. There is no clear RSI divergence from price at this time.
5....
ULTA is still rising, albeit on lower volume in recent time. The beauty store provider is still generating strong earnings growth with a 3 Year E.P.S Growth Rate of 25% and an E.P.S % Chg (Last Qtr) of 39%. This is accompanied by a 3-Year Sales Growth Rate of 21% and a Sales % Chg (Last Qtr) of 24%. This shows that an increase in sales is driving E.P.S growth,...
ULTA is in an obvious up trend on the weekly chart. Sort of sideways on the daily chart with an RSI making lower lows and lower highs.
But if you put a lot of stock in candle formations then you might be willing to risk some money to the downside. Bearish formation in Friday's candle on the daily (engulfing candle) within a one on the weekly (upside down hang...
