How much further is there to go with Ulta Beauty, Inc.? Dec-06-19 Ulta Beauty Soars on Earnings Beat GuruFocus.com +13.11% Ulta Beauty's (ULTA) Q3 Earnings Top Estimates, Shares Rise Zacks
If it turns out analysts are being cautious about a possible recovery, there could be some serious upside left in this one.
No need to fret about the pull back - a 50%+ pullback on a sharp rise is not uncommon. Keep an eye, see how brokers react with their short to medium price targets.
This is a typcial process whereby the sellers are slowly being mopped up by the buyers - very interesting to watch! Usually results in a spike upwards once the sellers have been taken out.
The shares are still looking strong after a period of consolidation. If they do push ahead there is no resistance until $300!
It looks to me as though the shares are currently being walked down by profit takers, following the trend line. It would not take an awful lot of buyers to push the shares higher into new breakout territory. Investors who missed out previously may well get a chance to buy-in some time soon.
