ULTA trade ideas
$ULTA 15-Minute DowntrendHas a clearly defined downtrend from yesterday on 15-minute chart that it is trying to break. Tested strong resistance at $244 yesterday before fading. It's starting to gain some momentum with RSI crossing above 30 and is about to have MACD cross. Will take a lot to get it back to $244 today but watching for intraday reversal this morning.
almost theremight as well wait for a break and hold of 245 for confirmation! its close to a big breakout imo. a dip entry is always possible though ;)
Bullish path upwardThis name is traded often and there's reason to be bullish in the near and short term. First entry is at the purple marked fib, second safer entry is at the major fib just above. PSAR flip is a reliable indicator of a bullish flip. Support was found at the fib below.
Ulta Beauty Might Be Sitting PrettyUlta Beauty had a big run between late 2014 and the middle of last year. It crashed in August 2019 and remained under pressure through the coronavirus selloff in March.
Since then, it’s squeezed into a range and may now be nearing a breakout.
The first thing that stands out on the chart is the large triangle converging around its current price. ULTA had a similar pattern in 2014 before launching on a 200%+ rally.
Next is the bullish gap from August 28. That followed a decent quarterly report with comp sales shrinking less than feared. It seemed to suggest customers have remained engaged and interested despite the pandemic.
A third chart pattern is the 50-day simple moving average (SMA) rising toward the 200-day SMA. Given the current paces, there could be a “Golden Cross” in the next 7-8 sessions.
ULTA still hasn’t given clear confirmation and may retest the bottom of the triangle closer to $219. But it’s a longer-term growth name that may start drawing more interest – especially into the holiday-shopping season.
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ULTAWilling to make a bet on a return and some appreciation here if there is to be a vaccine and return of people full fledged going out again next year. Minimal election risk stock. Good pair with a tech barbell. Looking for an H4 close above 244 for a trigger.
Beautiful falling wedge - Breakout pendingGreat R/R for longs here through commons, but for options plays, any potential pullback to 200 might present LEAPs opportunity. I doubt it would test pre-ER low anytime soon. let's see.
$ULTA - shows promise The market humbles all, it only takes time
Traders make their biggest mistakes often after 3-4 windfall days
Hoping this is not the time for me to learn my lesson. This looks like a great candidate for call option. I picked one up today.
Inverse Head & ShouldersA market darling
Long only after break of neckline
Possible targets 2: 238 250 470.5
Possible stop under 222
Not a recommendation
Ulta Earnings Gap FillUlta Beauty gapped up on good earnings aftermarket yesterday and left a massive gap needing to be filled. The target is $226. If it fills its gaps, it may be ready to take off once again.
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Ulta LongAdam and Eve reversal pattern playing out ( Cup & Handle formed ) Possible target 257 SL 209.8 , Could see nice run towards earnings
ULTA consolidating for next runTesting the 50 day on the other side then maybe another run toward the $230's?
Loving Ulta right nowBeen watching since the $190's, is it ready to go up and test that 50 day again?
$ULTA possible head and shoulders reversal pattern forming.Ulta is forming a possible head and shoulders reversal pattern after rising since the drop in March. The white line is the neckline and their is a small gap to fill around 160
It is also moving below all emas on the daily. remember on these patterns we wait until it breaks the neckline comes back to retest and confirms the move lower. volume is key on the drop!
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If the bull run continuesNot a good COVID stock, but technically like it to try another run at the 30 and 50 day averages.
