ULTA trade ideas
ULTA update: watching for the FOMO bulls' next moveThis educational screencast is I hope useful in showing how price action can be assessed from various perspectives. It is now pretty late in the game to short ULTA. See ULTA - Journey South ? (from 20th Nov 2018).
I expect FOMO bulls to rush into ULTA, fighting for a few crumbs! LOL. That expectation is based only on human psychology. Make no mistake, it is psychology that works at the tips of the markets.
See also what happened to FOMO Bulls in NVIDIA .
I re-emphasise that I have no need of working out where price is going to go. I'm using a probability model instead of a 'predictive' model. Hence - no targets, only controlled acceptable losses.
$ULTA sharp correction. Look for Long term Buy area.With market in volatile and downward trend, good companies with punished following earnings. $ULTA in at long term support area. Might interest long term investors.
May not be suitable for short term traders in this market condition.
Sell until earningsBelow $281 is just right but should be a lot lower IMO. Sell until just before earnings then reevaluate
ULTA Bearish Engulfing forming on weeklyWhile the whole market is falling, ULTA has cruised through and made ATH.
ULTA Bearish Engulfing forming on weekly right at ATH.
4 hour chart -update Worked nicely, still holdingIn this market, the relative strength is king! Still long from 279
$ULTA STRONG BUT MAY NEED A RESTULTA STRONG BUT AT RESISTANCE AREA ON DAILY
COULD PULLBACK THROUGH BROADENING FORMATION HERE
TIGHT LEASH AS OVERALL TREND IN THIS ON HAS BEEN UP
[ULTA] phase 2The price is going up, and it's above 30MM. If the price breaks 313.28 the price won't have limits :O
Why we went long ULTA on Oct 29thGolden cross on the 26th, way off the lows on the 29th told us it was time to get in @ 279
Sell ULTACounter intuitive trade
No new highs, daily
Looks like a head and shoulder set up pattern
Weekly shows green hammer at the top
MACD shows cup and handle accumulation
Stoch shows direction to oversold area
Playing the gap
Looks like price action is rolling over to fill lower
S/L 291
T/P 243.51
R/R 4.25
Profit Trading!!!
ULTA watch listZacks Rank: 3-Hold 3 Style Scores: D Value | B Growth | D Momentum | C VGM Industry Rank: Top 45%(114 out of 255) Industry: Retail - Miscellaneous
$ULTA Inverted H&S Forming$ULTA looking oversold on the hourly chart, down 2-3% today on light volume. Intra-day reversal is already underway after bottoming just above $242. Appears to be an inverted head and shoulders pattern forming on the daily chart. Monitor for a move back to and eventual break through $260 resistance level. Medium term target $290, assuming overall market conditions remain bullish to neutral.
Might be a good day to pickup some cheap OTM options for next ER, I'm looking at Aug 31 $280 calls going for around $1.00 today with a current delta of 0.09
Note: Observation/opinion, not investment advice.
Long play for ULTAFrom the chart, I am seeing cupnhandle. I think it's a good set up for long. I think earning may come better than expected. Please do your DD, I am just learning about charts.
Looking like a short term sell ULTACannot break 261, was hoping it would break out today after the strong Friday close, will see what happens tomorrow but keeps looking more and more like it's heading to about $220. Still looking long term bullish for ULTA but looks like a good time to take some profits.
