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Look for Shares of Ulta Beauty Inc to Potentially Rebound after Yesterday's 1.00% Sell Off

By Amy Schwartz

Ulta Beauty Inc (NASDAQ:ULTA) traded in a range yesterday that spanned from a low of $243.68 to a high of $247.77. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $246.93 on volume of 479,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Ulta Beauty Inc have traded between a low of $187.96 and a high of $314.86 and are now at $244.94, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Ulta Beauty Inc on March 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $215.52. Since that recommendation, shares of Ulta Beauty Inc have risen 14.8%. We continue to monitor ULTA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ulta beauty inc

Ticker(s): ULTA