0LIB trade ideas
Long $ULTA CMP $369.84Long $ULTA CMP $369.84. Trading above 50 EMA. Uptrend continuation. MACD histogram was fading but I guess recent market volatility turned it to negative. Bullish pattern. Expect breakout soon. Possible targets $390 and $420
OCT 11 IdeaULTA looks like it is ready to explode. This is just my opinion. please do your own homework as well.
Ulta Beauty Holds a Gentle PullbackUlta Beauty jumped to new highs last month. Now it may be sitting pretty after a gentle pullback.
Notice its runup into earnings after the bell on August 25. The beauty-products company didn’t disappoint because profit, revenue and guidance all surprised to the upside. However, the stock was ahead of itself and quickly got rejected above $410.
Now, three weeks later, prices have calmed. Notice the series of long tails under $370, with closes above. Yesterday was a bullish outside day as well.
Second, consider how the 8-day exponential moving average (EMA) has remained above the 21-day EMA throughout this period of consolidation.
The stochastic oscillator also dipped to an oversold condition, from which it’s now rebounding.
Fourth, look back to ULTA’s July 2019 high of $368.83. The current period of consolidating seems to be building new support above that old resistance.
Finally, the Census Bureau this morning reported a surprise increase in retail sales. Despite fears of the delta variant, the consumer isn’t rolling over yet. That could discretionary favor names like ULTA – especially into the holiday season.
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Consolidating but in a good spotConsolidating in a rectangle, Tested support 3x last week and it formed a descending triangle from the bottom.
I am interesting in 2 price pivots: 384.30 and 386
Above those, we might test top or rectangle at 392
Trading Idea - #UltaBeautySELL
ENTRY: 331.25 USD
TARGET: 267.10 USD (20% profit)
STOP: 362.26 USD
Ulta Beauty is specialized in the distribution of cosmetics and perfumes.
ULTA looking to make new all time highs!ULTA (Ulta Beauty, Inc) is testing resistance around the $355 area that dates back to mid 2019.
Fundamentally,
* It's undervalued with a PEG of 0.77
* Its earnings per share is expected to grow over the coming year.
Technically,
* General up trend
* Beta > 1 (following the general market trend)
* Broke above the resistance of $315 that dates back to 2017 and retested it as support
* It's approaching and testing resistance that dates back to 2019 and is looking to break through
Final thoughts:
* This is a good long term hold as the company is generally doing really well.
* It's currently undervalued, meaning it's actually worth more than the current price.
* Now would be a good time to get in if you're looking to hold this for the long term.
* If you're looking for a discount, look for buying opportunities around the $340 area
* If the price closes below $340 then look for buying opportunities around the $330 area.
Alternatively, if you like to buy high and sell higher, you can look for the price to make a weekly close above $355.36.
SWING IDEA #10: ULTAA Rising Wedge (Bearish) is forming on ULTA, I can see this drop down to $296. But, it still has lots of room to go up so do NOT ENTER UNTIL CONFIRMATION that it has broken out of the wedge. This kills new traders as technical analysis isnt ALWAYS accurate, I learned it the hard way.
This is not financial advice just my opinion.
Also, please comment what type of swing ideas you want? Support/Resistance, Patterns, Unfilled Gaps, Etc.
$ULTA - TL break possibility $ULTA post earnings with a possible break above- mask off, need make-up
#ULTA: Nice uptrend hereNice upside with relatively low risk in $ULTA for a swing trade here. I can see this rallying until August 20th easily, and reaching as high as $426 as best case scenario here.
If price were to move below the white horizontal line this signal becomes invalid.
Best of luck!
Cheers,
Ivan Labrie.
ULTA steps higher__________________________________________________________________________________
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ULTA reached the level above 300$ very stable and follows the fibonacci. There is a good opportunity to reach the ATH again.
Support and resistance shows very well and clearly.
For the February-through-April period, Ulta is likely to post a head-turning sales growth number -- most analysts who follow the stock have forecast a revenue spike of nearly 40% year over year to $1.6 billion. Sales were only down modestly year over year in the prior quarter. But that's still a low bar to clear, given how far revenue slumped in 2020's fiscal first quarter due to widespread store closings during the early lockdown phase of the pandemic in the U.S. Ulta would need over $1.74 billion in sales to post growth compared to its fiscal 2019 Q1 result.
The bigger question is whether the makeup industry is still reeling from COVID-19's impact. Executives were cautiously optimistic in mid-March that a rebound was building as customers re-engaged with Ulta's spa services and makeup products. "Beauty enthusiasts still value the human connection," incoming CEO Dave Kimbell told investors. We might see some support for that argument in rising customer traffic numbers for fiscal Q1. For context, traffic fell 12% through January.
Reverse S/H/S + cup & handle formed ULTA goes higheron the 1hr chart, ULTA price action forms a reverse S/H/S + cup & handle. Very bullish going into ULTA's earning nex week
Daily TTM squeeze set upULTA daily looks good TTM squeeze, 8ema crossing 21ema, break above supply zone.
$ULTA - in gap fill zoneStrong hammer candle for April 13
Entered and exited April 12, two times and booked nice gains.
I would love a pull back under $330 for entry
I will replay what works. $330 strike May 14 expiration, most likely
ULTA gap fill playULTA broke the neckline of the inverted head and shoulders. Headed for first gap zone around 336.81. Then on up for the big gap which needs to hit 346.56 to close. Multi day swing
$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.
