Looking at the ULTA Beauty Options options chain ahead of earnings , I would buy the $480 strike price Puts with
2023-9-15 expiration date for about
$28.90 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
This looks like a shortable double top on ULTA Beauty.
Stop loss: 565usd
Take Profit: 515usd
200 Moving Average: 441usd
Looking forward to read your opinion about it.
ULTA a women's beauty focused company has benefitted from the end of the Covid Era,
Earnings reports have been rock solid for sure.
I think ULTA is overdue for a correction.
On the 4H Chart, supply and demand zones are per the LuxAlgo indicator. Price touched
and retested demand several times last summer and early fall. It is now touching and ...
ULTA is sitting below a double top and looking at the Fib levels retraceing the uptrend finishing out December.
The RSI shows relative weakness while the MACD shows the trend after a crossover of the lines at
each of the two tops.
I believe this stock is ready for a short position with a stop loss just above the double top.
The first target would be the...
Multiple rejections across this trend line, likely to reject again here.
Expecting a 40+ point pullback.
Target is 440. Stop is a daily close above 500.
Everything is in the chart.. classic bull flag setup on $ulta. Financials are great, EPS is solid, basically recession-proof at the moment.
CALLS idea - wait til retest of 410-420 and grab $500 calls 2 months out.
PUTS idea - wait til top of channel is hit then grab 430 puts 1 month out.
This is not financial advice, just for fun!
good strength relative and excellent recent earnings.
On the chart, price has risen persistently and consistently
from a triple bottom in late September through October
The stay-at-home economy is over. Beauty and so cosmetics are back.
ULTA should benefit from holiday buying and gifting
Looking at long time frame charts. ULTA is now at its
all time high....
With 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...
$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
I 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
Long $ULTA CMP $369.84. Trading above 50 EMA. Uptrend continuation. MACD histogram was fading but I guess recent market volatility turned it to negative. Bullish pattern. Expect breakout soon. Possible targets $390 and $420
The market is turning bullish again! Both S&P500 & the Nasdaq are up quite a bit and has retraced most of the sell-off. While some stocks are soaring in this rally, some are still lagging behind, particularly healthcare and biotech stocks.
Consolidating in a rectangle, Tested support 3x last week and it formed a descending triangle from the bottom.
I am interesting in 2 price pivots: 384.30 and 386
Above those, we might test top or rectangle at 392
