A 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.
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.