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Look for Shares of Ulta Salon Cosmetics & Fragrance to Potentially Pullback after Yesterday's 2.00% Rise

By David Diaz

Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) traded in a range yesterday that spanned from a low of $238.05 to a high of $242.85. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $241.12 on volume of 526,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Ulta Salon Cosmetics & Fragrance share prices have been bracketed by a low of $120.38 and a high of $278.63 and are now at $242.10, 101% above that low price. 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 4.4%. 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