Ulta Beauty (ULTA) - Tightening Up On Monthly Chart$ULTA monthly chart - almost at new all time highs. Tightening up considerably despite bear market. Daily chart (in thread) looking actionable.
ULTA trade ideas
Nen Star//RectanglePrice is at support and has met T1 of the crooked W pattern which looks like a bearish Nen-Star. Price is sitting on target 1. T2 is listed below. T3 would take price to the lower support line of the Rectangle.
Valley 2 of the harmonic structure is lower than valley 1.
Price is also in a large Rectangle which is a neutral pattern until a trendline is broken.
Some would swing trade inside the rectangle as it can bounce up and down inside of it for quite some time. It will eventually break down but can be a very long term pattern.
Green type above the structure are possible targets if there were a break of the upper trendline and orange type are possible targets down if bottom trendline is broken.
Short interest is around 3%.
No recommendation.
Price is still well above the .382 of the long trend up.
RectangleNew ATH today. No resistance overhead to speak of.
Possible Bearish Butterfly.
If this is a Butterfly, the last leg ends at the 1,272. The upward retracement is strict on the Butterfly and it must hit the .786 or very close to it.
The retracement leg (AB) up one nailed the .786.
It is a crooked W. There is a bullish Butterfly as well.
Butterflies can be found anywhere in a chart, but most often found at tops or bottoms.
This may not be a Butterfly so I am watching this one closely. If so, it will turn down soon.
The 1.618 is up there as sometimes this pattern can overextend. It is an extension and a reversal pattern.
This is not a Crab (ends at 1.618 or further in some cases) because the Crab retraces on the AB leg between the .382 and the .618.
This is also a rectangle, a large one. Price has broken the upper trendline. Strong stock.
Targets for a break to the upside are above the Rectangle and targets for a break to the downside are below it.
Doing nothing can be a good strategy.
No recommendation
Ulta Beauty last of retailers to feel consumer painWith other retailers reporting a tightening of consumer spending and rising energy and housing costs beginning to bite Ulta is demonstrating a megaphone top and approaching trendline resistance.
Trading on a PE Of 22 for a retail operation all off the good news may already be priced in and any slip on earnings will see it severely punished.
Watch for a reaction at trendline resistance.
ULTA: might we see a breakout?The price action might break out of the rectangle pattern.
A price action above 404.00 supports such upside potential.
Further trend support above 416.00
Crossing above 423.00 might target 442.00.
Crossing below 410.00 will be the first sign of pending weakness.
RectangleA Market Darling.
ULTA is still above the .236 (bottom trendline of the Rectangle) of the impulse wave up.
Possible Double top unless price breaks out of the Rectangle and climbs to Targets in white above the Rectangle.
Targets for a break to the downside are in orange below the Rectangle.
Some would trade inside the horizontal trading channel.
It appears this stock is a money making machine, but I guess everything has a limit, maybe. I know I do.
Price is hanging on the top trendline of another Rectangle which is now support. The candle tail did dip lower but the bottom of the candle body is on the support line.t
These buyers have hung through thick and thin.
It will take an earthquake or a "come to Jesus moment" to panic these buyers in to selling this stock.
But they probably will eventually.
I noticed very soft earnings estimates by analysts next quarter which is not until 12/1/22.
They are predicting ULTA will beat their lowered earnings estimates.
Neutral pattern until a trendline is broken.
No recommendation.
Unbelievably resilient so far during a turbulent market, but I am not buying it here. I just heard CNBC Business Channel say it is a Buy so I looked.
US Stock In Play: $ULTA$ULTA - Consumer Cyclical | Specialty Retail
1yr of ranging price action, coupled with higher lows in RS where lows on price remains flat
latest ER beats by 0.71, beats on revs, comps of +14.4%; guides FY23 EPS and revs above consensus, raises FY23 comp guidance
remarkable
ULTA short possibilityInteresting structure here... looking to take some puts around 420 hopefully gaps up after ER can open position then.
Amidst The World's Greatest Beauties Are Its RuinsULTA has been dodging fate for too long, anytime its indicated shorting opp. in 2022 it somehow finds new legs and treads higher. In my charts I use colors in accordance with their interpretation, so I didn't mean to paint this red it just only warranted red drawings, glamour stain tears goes with the pearls.. anyway:
- Nasty expanding triangle with Distribution, earnings as a catalyst to finally tank this (it needs a healthy pullback to continue growth over the years, good company, ugly chart)
- Bearish Harmonic more noticeable on the daily that indicates potential for pre-earnings run up to low 400s (around 410-413).. This would be ideal entry point for short position, looking at December puts
- Very similar setup to ULTA earnings in August 2019 (if you aren't familiar with its chart here is what happened: gap down from 330 to 230 on Earnings miss; this has seasonality based on the business and August report generally under-performs, especially when at reversal point w.r.t. chart structure, such as currently)
Expectations:
* Gap down following Earnings August 25th to the 295-330 range, followed by dead-cat bounce and continued downside
** Minimum Downside target by December 2022 is 223
*** If things get nasty it could get hit to 67 but I wouldn't bank on this because it will squeeze at some point after 223
#NFA
$ULTA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $ULTA after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 83.33%.
ULTA - Strong Bullish PositionI expect price to form a double bottom from where it is now, continuing the up channel that can be drawn
I prior double bottom can be seen, which led to bullish results
$ULTA Breakout Target 430$$ULTA Breakout in 1h Chart on above average volume - Target 430$
All Entry Criteria have been met:
1. Price above 10, 20 & 50 EMA --> Check
2. Consolidation Phase in Uptrend --> Check
3. Breakout on above average Volume --> Check
ULTA overextended and fundamentally weakULTA running right into the overhead resistance and extended outside the top of its value range. It found strong support at 402 last week but now it gets rejected at 430, also showing signs of double top after not being able to get a strong close over 425 for the 5th time. Personally expecting CPI tomorrow to expedite its test of 402 support before most likely breaking it. After all said and done, I think it will land itself around 370 where it will be range bound. Although I think this range will not hold for very long from a fundamental stand point. Before last earnings, ULTA showed clear weakness when it started closing below its VAL; this opens up the area of 300 for next stronger range trading for ULTA. Briefly looking at it from a fundamental stand point, next earnings will show its growth slow and decline in all honestly. Inflation pressure is hurting consumers and I think this will lead to a decline in specialty retail sales. We are already seeing this in general retail like WMT and TGT.
$ULTA Breakout Target 520$$ULTA Breakout in 4h Chart on above average volume after consolidation phase - Target 520$
All Entry Criteria have been met:
1. Price above 10, 20 & 50 EMA --> Check
2. Consolidation Phase in Uptrend --> Check
3. Breakout on above average Volume --> Check
ULTA BreakoutULTA broke out of its flag. May pick up more shares if it retests and price action looks good.
ULTA Breakout watchWatching for a breakout here on ULTA. Might take a few days, or not happen at all
ULTA + CHANEL UP05/31/2022 (mm-dd-yy)
TARGET 490
TRIGGER 439
STOP 1 = 416
STOP 2 = 356
Historic:
05/31/2022 (mm-dd-yy)
Fear & Greed Index: 26
Mid-term forecast (1-2 weeks):
If price breaks the 439 resistance, a resumption of a strong uptrend is expected.
Aiming at 490 (1-2 weeks) and (2-4 weeks)
If the support a 439 breaks, the short-term forecast (resumption of the downtrend) will not be valid.
We will close our open trades if the 416 or 356 level is broken in the medium term.
Technical analysis:
A chanel on the floor forms on the daily chart between 356 and 416, starting on 08/23/2021.
This week it can break 439 and is expected to rise to 490 according to technical analysis and confirmation of the pattern.
+ Trigger:
Trigger1= 439
+ Take Profits:
TP1=490
+ Stop:
Stop1=416
Stop2=356
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Ulta USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Are we looking for $300?Chart looks broken and now retesting previous highs. This can come down anytime towards $300 pretty fast.
$ULTA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $ULTA after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 62.5%.
ulta short Ulta has been really smart about how they run their business. They really gotten very good with their e-commerce, as well as physical stores. with all the great move they have been making specifically with Rihanna, we will see how nvestors react. Makeup sales suffered during the pandemic, but Ulta Beauty's earnings report later today is a chance to show that consumers are using more cosmetics again as socializing returns.
Third-quarter results show growth is accelerating.
Margins are racing towards new highs.
Ulta might have room to start boosting the store count more quickly in 2022 and beyond.
but giving the trend right now in the market, i have a bearish sentiment when it comes to technicals
also will people still spend as much with inflation ? will guidance slow down
if it holds with green market - target 400-420
bearish target: 310-300
Ulta Beauty USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
