The PEAD projected a bullish outlook for $ULTA after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 70%.
This actually turned to a false entry by end of day , took it with less than 15 minutes left in the day , but unfortunately its signal could not hold , the reason I take my trades close to the close and sometimes after is exactly to avoid this and had I noticed earlier , I would have actually got out ...
Not to say it might not still work though so lets see , but...
This is a strong stock and also a Market darling.
Who knows? It could go up forever. I do not think so.
I know women love make up but Holy Cow. This is just not something I would buy way up here but we are all different.
Price is above the .236 of the trend up bit.
Something does not feel right and I could be wrong.
Earnings are estimated on 5-25. Short...
(1/2) Fundamental Analysis - Hello, this is my strategy on ticker $ULTA. I believe the stock is a great long-term buy-and-hold investment, but not at this time. The stock is undoubtedly overvalued. A recent study published by Macrotrends showed Ulta Beauty shares outstanding for the quarter ending January 31, 2023 were 0.051B. This is a decline of 7.05% YoY. The...
Bearish Rising Wedge noted.
The bottom trendline remains in tact so it is not valid.
Both trendlines are sloping up and narrowing as the apex.
The lines show that the highs and the lows are either rising or falling at differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge shaped trend lines are considered useful indicators...
ULTA hit the top of it's long term channel and bounced off resistance. It also hit the highest fib extension which is the first I've stock I've seen in the last few years to do so. Lastly, it is in an uptrend since October, so expect ULTA to fall below support as early as next week. Short term price targets are 494 and 486.
Not financial advice
I wouldn't short unless it broke back below trend resistance/500, for me it looks like we enter consolidation then leg up to 550-600 once that's finished.
boost and follow for more, thanks
I bought puts on ULTA yesterday and I wish I would've waited until today. Oh well, they were well in the money, so I wasn't hurting too terribly today. Anyway, after the run up today, I looked at other alternatives for a stopping point. I don't ever use fib extension levels above 4.236 mostly because those targets are hardly ever hit, but after ULTA surpassed that...
Here's a 2nd chart of ULTA with less clutter
"Bought PUTS yesterdays on ULTA because I knew I'd miss todays morning move to hit the 1.618 fib extension. Today should be the highest point ULTA will hit for some time. Price target was 511 and some change for the smaller 1.618 extension which began on Jan 18 '23 as well as the larger 1.618 fib extension which began...
Bought PUTS yesterdays on ULTA because I knew I'd miss todays morning move to hit the 1.618 fib extension. Today should be the highest point ULTA will hit for some time. Price target was 511 and some change for the smaller 1.618 extension which began on Jan 18 '23 as well as the larger 1.618 fib extension which began on Dec. 8 '22 which were both hit this morning....
ULTA is sitting below a double top and looking at the Fib levels retraceing the uptrend finishing out December.
The RSI shows relative weakness while the MACD shows the trend after a crossover of the lines at
each of the two tops.
I believe this stock is ready for a short position with a stop loss just above the double top.
The first target would be the...
Horrible stock to trade ... defying all technicals here , but thats what you get in rising wedge patterns. I've seen this move happen with Google and Target from 2020-2022 ; that didn't end pretty and neither will this...
All its going to take is a bad earnings and a few stock down grades.
I wouldn't play any contracts shorter then August EXP
Multiple rejections across this trend line, likely to reject again here.
Expecting a 40+ point pullback.
Target is 440. Stop is a daily close above 500.
