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
ULTA trade ideas
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.
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.
I was long ULTA in Feb @ $200, still longStill looks like we should continue in this rising wedge to at least 275-290 before a more significant pull back. Will have good confirmation if we break $258 tomorrow. $244-$258 will be a great support zone in the future.
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.
IHS on ULTA, 300+ upon confirmation Looking for a breakout here, PT will get it to previous high and potential C&H 100+ deep but that's a story for another trade.
