$ULTA ER gap aboveULTA is currently on a rising wedge that needs to break out of, or we'll see a breakdown on shorter timeframes. Stoch RSI seems a bit toppish and it's looking like it might trade around this range for a while, until we get some decent volume or a catalyst. A breakout higher this week above post ER high's should be a great signal to go long to fill the gap above. Will be watching closely to hold these levels unless that rising wedge proves to be bearish. Looking at long dated calls for this strategy as well as puts if below 314.5.
