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Look for Shares of Ulta Salon Cosmetics & Fragrance to Potentially Pullback after Yesterday's 10.44% Rise

By Nick Russo

Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) traded in a range yesterday that spanned from a low of $245.25 to a high of $264.23. Yesterday, the shares gained 10.4%, which took the trading range above the 3-day high of $242.00 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Ulta Salon Cosmetics & Fragrance has traded in a range of $120.38 to $278.63 and is now at $262.65, 118% above that low. The 200-day and 50-day moving averages have moved 0.48% higher and 2.24% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Ulta Salon Cosmetics & Fragrance on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $248.83. Since that call, shares of Ulta Salon Cosmetics & Fragrance have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders ulta salon cosmetics & fragrance

Ticker(s): ULTA