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Watch for Continued Gains in Shares of Ulta Salon Cosmetics & Fragrance (ULTA)

By Amy Schwartz

Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) traded today at a new 52-week high of $254.65. This new high was reached on below average trading volume as 75,000 shares traded hands, while the average 30-day volume is approximately 1.3 million shares.

Based on a current price of $252.95, Ulta Salon Cosmetics & Fragrance is currently 27.9% above its average consensus analyst price target of $182.40. The stock should discover initial support at its 50-day moving average (MA) of $191.98 and subsequent support at its 200-day MA of $175.20.

Ulta Salon, Cosmetics & Fragrance, Inc. sells cosmetics, fragrances, skin and hair care products, appliances, and accessories. The Company also offers hair salon services, manicures, pedicures, massages, and other beauty & spa treatments.

In the past 52 weeks, shares of Ulta Salon Cosmetics & Fragrance have traded between a low of $120.38 and a high of $254.65 and are now at $252.95, which is 110% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Ulta Salon Cosmetics & Fragrance on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $167.29. Since that recommendation, shares of Ulta Salon Cosmetics & Fragrance have risen 50.8%. We continue to monitor ULTA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ulta salon cosmetics & fragrance

Ticker(s): ULTA