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Watch for Ulta Beauty Inc to Potentially Pullback After Gaining 4.24% Yesterday

By David Diaz

Ulta Beauty Inc (NASDAQ:ULTA) traded in a range yesterday that spanned from a low of $279.51 to a high of $280.49. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $280.00 on volume of 651,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Ulta Beauty Inc share prices have moved between a 52-week high of $368.83 and a 52-week low of $222.00 and are now trading 30% above that low price at $289.47 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.9%.

SmarTrend is tracking the current trend status for Ulta Beauty Inc and will alert subscribers who have ULTA in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ulta beauty inc

Ticker(s): ULTA