How the (ULTA) price action is used to our Advantage

March 26, 2024, 09:36 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ULTA

• Buy ULTA slightly over 476.47 target 541.64 stop loss @ 475.09 Details

The technical summary data tells us to buy ULTA near 476.47 with an upside target of 541.64. This data also tells us to set a stop loss @ 475.09 to protect against excessive loss in case the stock begins to move against the trade. 476.47 is the first level of support below 508.135 , and by rule, any test of support is a buy signal. In this case, support 476.47 is being tested, a buy signal would exist.

• Short ULTA slightly under 541.64, target 476.47, stop loss @ 543.2 Details

The technical summary data is suggesting a short of ULTA as it gets near 541.64 with a downside target of 476.47. We should have a stop loss in place at 543.2though. 541.64 is the first level of resistance above 508.135, and by rule, any test of resistance is a short signal. In this case, if resistance 541.64 is being tested, a short signal would exist.

Swing Trading Plans for ULTA

• Buy ULTA slightly over 528.18, target 541.64, Stop Loss @ 526.65 Details

If 528.18 begins to break higher, the technical summary data tells us to buy ULTA just slightly over 528.18, with an upside target of 541.64. The data also tells us to set a stop loss @ 526.65 in case the stock turns against the trade. 528.18 is the first level of resistance above 508.135, and by rule, any break above resistance is a buy signal. In this case, 528.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ULTA slightly near 528.18, target 503.27, Stop Loss @ 529.71. Details

The technical summary data is suggesting a short of ULTA if it tests 528.18 with a downside target of 503.27. We should have a stop loss in place at 529.71 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 528.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ULTA

• Buy ULTA slightly over 510.29, target 517.29, Stop Loss @ 509.1 Details

If 510.29 begins to break higher, the technical summary data tells us to buy ULTA just slightly over 510.29, with an upside target of 517.29. The data also tells us to set a stop loss @ 509.1 in case the stock turns against the trade. 510.29 is the first level of resistance above 508.135, and by rule, any break above resistance is a buy signal. In this case, 510.29, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ULTA slightly near 510.29, target 503.27, Stop Loss @ 511.48. Details

The technical summary data is suggesting a short of ULTA if it tests 510.29 with a downside target of 503.27. We should have a stop loss in place at 511.48 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 510.29, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Ulta Beauty Inc. (ULTA) available here: ULTA.

ULTA Ratings for March 26:

Term →	Near	Mid	Long
Rating	Weak	Weak	Neutral
P1	0	0	413.35
P2	510.29	503.27	476.47
P3	517.29	528.18	541.64

AI Generated Signals for ULTA

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Ulta Beauty Inc. (NASDAQ: ULTA) data table below can help you with price action, and we have more details too. Trading plans for ULTA are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.