ULTA ends the day on a bearish note closing near the low of the day

Ulta Salon Cosmetics & Fragrance Inc (ULTA) Technical Analysis Report for Sep 14, 2018

Highlights

ULTA closes below its opening price unable to hold early session gains
ULTA closes lower for the 3rd day in a row
ULTA ends the day on a bearish note closing near the low of the day
ULTA finds buyers again around 278.94
ULTA breaks below previous session low

TQ Sentiment

Report Sentiment: 42% Bearish
Technical Forecast:

Overview

Moving lower for the 3rd day in a row, ULTA finished the week -2.34% lower at 279.10 after losing $1.42 (-0.51%) today. Today's closing price of 279.10 marks the lowest close since September 6th. Trading $2.85 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 279.47, Ulta Salon confirms its breakout through the previous session's low having traded $0.53 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for ULTA

Volatility

Friday's trading range was $4.02 (1.44%), that's below last trading month's daily average range of $7.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to a key support level at 276.78. After having been unable to move lower than 279.47 in the prior session, the stock found buyers again around the same price level today at 278.94.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Ulta Salon Cosmetics & Fragrance Inc

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