ULTA big shorting chance ULTA on a clearly down trend channel and waiting to breakdown the inside channel as it shown on yellow box for short
ULTA trade ideas
ULTA Analysis Rising Wedge + Simple ABC Correction + Support + Bullish Momentum
ULTA continues to rise in Bullish Channel (Rising Wedge) in anticipation of earnings. 2 Long wick rejections of Support and 14EMA (PivotPoint imperfect rejection) show that we have completed C wave and look for an expected move to wave D target of 228.87.
Options Trade: 5/29 230c (Sell right before Earnings)
Ulta Beauty $222 target Cowen analyst Oliver Chen lowered the firm's price target on Ulta Beauty to $235 from $265 and keeps an Outperform rating on the shares. The analyst keeps it as a top idea through the COVID-19 crisis given its solid online trends, category resilience, accelerated market share gains, and a relevant loyalty/store format that positions it for long-term growth post crisis.
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ULTA - Entering the earning and there is still a straddleJust a little weird, the best course of action is this will straddle into earning.
fib is at a major support on both trend and weekly/monthly action.
should there be a earning surprise, i still feel this should go towards 250 else will straddle here at this price of 225.
any negative news it should hit 187.
either ways, i would only consider a buy about 250 or at 187 in between is just huge premium killer even entering the earnings
$ULTA , slow and steady climb back to gap upAs long as corona doesn't f' up these tendies, seems like a no brain play. But the market is very high and could pop from now till March and might now give it enough time to truely gap up, it's a slow and steady rise but I hope it speeds up as momentum is still highish. Make up isn't going out of style, especially if people are looking sickly from coronas
Ulta Beauty gap trade, but full of resistance levels. Entry level $280 = Target price $310
Levels of Interest = $297.65 200 Day moving average
P/E ratio = 23
Short interest = 8.4%
Average Recommendation: oVERWEIGHT Average Target Price:$282.57
14 BUY
01 OVERWEIGHT
12 HOLD
01 SELL
Company profile
Ulta Beauty, Inc. is a beauty retailer of cosmetics, fragrance, skin care products, hair care products, and salon services. It provides unmatched product breadth, value and convenience in a distinctive specialty retail environment. The company was founded in January 9, 1990 and is headquartered in Bolingbrook, IL.
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ULTA flag. Wait for break confirmation.ULTA Coming out of channel from lows in september. Been bouncing the 228-250 range for the last couple of months and is finally tightening to a break up or down. Based off of todays close (1/3/20) it looks like it may break down once more to the 235-240 area before a rip to 260+. If by an off chance we break the flag on the upside first target is a simple 260 will update as of then. Aside from any freak gaps will continue to monitor and update idea.
Ulta Beauty breakout possibleEntry level $254.50 = target price $269.50 = Stop loss $250
Stock has struggled to add to gains post earnings as the sector fell out of favor with the rush back to tech, the stock is reached the apex of a symmetrical triangle which looks poised to break today.
Ulta Beauty, Inc. is a beauty retailer of cosmetics, fragrance, skin care products, hair care products, and salon services. It provides unmatched product breadth, value and convenience in a distinctive specialty retail environment. The company was founded in January 9, 1990 and is headquartered in Bolingbrook, IL.
ULTA AnalysisWhen looking at ULTA from the Monthly/Weekly view, there is still a lot of downward pressure, even with its latest ER that was slightly better than expected. My long term analysis for ULTA is it will struggle higher. There are many buyers in the 300's that got caught with their pants down with the Aug ER that caused a huge sell off and gap down. Question is how long can those buyers withstand their pain. Once ULTA reaches back into the low 300's I see those buyers that have been experiencing pain this hole time to take a deep breath and sell at close to break even or a little loss. This will cause another wave of selling pressure as the price starts to get away from them again. In addition, I believe that a lot of new buyers will start to enter ULTA around the 250's as the smaller timeframes daily/4hr start to show an upward buy happening, they too will sell off as the larger timeframes monthy/weekly start to sell their positions in the lower 300's. If we fail to reach the 300's before we get our next big downturn then ULTA could be entering a larger sell on the larger timeframes and we steer clear of ULTA for long positions for a while. If for some reason we blow through the low 300's into the mid 300's then that will be very bullish for ULTA and likely we will go on to make higher highs, I just don't see this happening at the moment.
*Please trade at your own risk*
