ULTA trade ideas
ULTA - Downward channel breakout long from $207.47 to $230ULTA bounced back from its support level & seems breaking out of a downward channel formation. It had quite some insider buying. We think it will continue upward from here.
* Trade Criteria *
Date First Found- March 8, 2018
Pattern/Why- Downward channel breakout
Entry Target Criteria- Current price ($207.47) (Hit March 9, 2018)
Exit Target Criteria- $230
Stop Loss Criteria- N/A
Indicator Notes- Crossed above its Moving averages
Special Note- Lots of insider buying
Please check back for Trade updates. (Note: Trade update is little delayed here.)
ULTA $400 June 2019ULTA is a strong company with average revenue growth rate of 22% per year for the last 5 years with the last 12 months right on target.
After dropping 40% in price ULTA is looks to be mirroring its 2013-2014 drop which also was a 40% drop. The quickest moving average has also crossed over.
Seems reasonable to see $400 price right on our trend line and 1.618 fib which was hit after the previous 2013-2014 drop after 1.5 years which would lead us into June 2019 to hit this price.
ULTA 1W CHART ULTA BEAUTY INC ENTRY LEVELAfter an RSI bearish divergence, market reached uptrend line.
Entry level is suggested over MA100 cross for a R/R of 2.4.
28% Profit in 1 year.
This is a save bet in order to diversify your portfolio
WNZ
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ULTA support lvlI make stock analyses before the opening, these levels i draw are strong support/resistance and are the most powerfull on the same day. So i use them the moment when the market opens.
You can see somethimes i use 2 - 3 levels because i dont know where the market will open.
when the market open i see witch levels are still valid if it gaps above or under my level this one cannot used anymore.
If price come close to my level i place a limit order.
time frame i use are 5-10 min candles if price close right under or below the level with few penny's its of the table ! my risk reward ratio is 2:1 would be good to use trial these are scalp trades in high illiquidity market conditions !