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Ulta Beauty Inc Rises 17.69% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Ulta Beauty Inc (NASDAQ:ULTA) traded in a range yesterday that spanned from a low of $154.05 to a high of $169.79. Yesterday, the shares gained 17.7%, which took the trading range above the 3-day high of $164.95 on volume of 728,000 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, shares of Ulta Beauty Inc have traded between a low of $124.05 and a high of $368.83 and are now at $168.58, which is 36% above that low price. The 200-day and 50-day moving averages have moved 1.03% lower and 2.52% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Ulta Beauty Inc on February 28th, 2020 by issuing a Downtrend alert when the shares were trading at $257.28. Since that call, shares of Ulta Beauty Inc have fallen 44.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders ulta beauty inc

Ticker(s): ULTA