Check out Ulta Beauty's chart – looks like it might be prepping for a breakout! We're seeing what appears to be an "inverse head and shoulders" pattern forming (see: left shoulder, head, right shoulder). This formation usually signals a potential trend reversal, suggesting the downtrend may be losing steam and a bullish move could be brewing. If it breaks above the "neckline" around $375, it could be confirmation. Of course, patterns are probabilities, not guarantees! Are you betting on Ulta's glow-up, or thinking this trend might fade? Share your thoughts below!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.