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Ulta Beauty, Inc.Ulta Beauty, Inc.Ulta Beauty, Inc.

Ulta Beauty, Inc.

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ULTA trade ideas

$ULTA Inverted H&S Forming$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.
NASDAQ:ULTALong
by Triple_Barrel_Capital
Short-Term Reversal for ULTAULTA is showing strong bearish signs after a rally. Taking a look a the weekly chart (below) we see signs that rally is coming to an end with consolidation of prices and a bearish reversal candle. Further more Volume is declining and MACD histogram is ticking down. Weekly chart: Moving down to the Daily chart (below) there are multiple bearish candles on resistance coupled with declining MACD lines and histogram together with high volume for the last bearish candle. Daily Chart: Stop loss is placed slightly above resistance line and Take Profit is set to 50% Fibonacci retracement as well as support line. Risk/Reward ratio is about 1/3.
NASDAQ:ULTAShort
by Skills-Of-The-Trade
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