ULTA had bounced 3 times around 363 forming a triple top over the last few months. Recently, it had broke below that support level and has bounced the past 2 weeks. Looks to be forming a bear flag, albeit that it is not that best looking flag I have seen. Lots of short squeezing pushing price all over the place in this volatile market. Earnings coming up, anything can happen. But studying the past few ERs, there are either a massive gap down or gap up with it being sold into instantly. So I expect that whatever happens, the price will still go down. I am looking for 300 in the coming weeks.
Comment:
Bear flag breaking apart here, looks to go lower. Can see 350 if selling momentum keeps up.