HaseebKhan_90

ULTA looking to make new all time highs!

Long
NASDAQ:ULTA   Ulta Beauty, Inc
ULTA ( Ulta Beauty, Inc) is testing resistance around the $355 area that dates back to mid 2019.

Fundamentally,
* It's undervalued with a PEG of 0.77
* Its earnings per share is expected to grow over the coming year.

Technically,
* General up trend
* Beta > 1 (following the general market trend)
* Broke above the resistance of $315 that dates back to 2017 and retested it as support
* It's approaching and testing resistance that dates back to 2019 and is looking to break through

Final thoughts:
* This is a good long term hold as the company is generally doing really well.
* It's currently undervalued, meaning it's actually worth more than the current price.
* Now would be a good time to get in if you're looking to hold this for the long term.
* If you're looking for a discount , look for buying opportunities around the $340 area
* If the price closes below $340 then look for buying opportunities around the $330 area.

Alternatively, if you like to buy high and sell higher, you can look for the price to make a weekly close above $355.36.