This stock has been a true out-performer.
W pattern noted.
If price does not proceed much higher than where it is now, this could be a Alternate Shark. The last W for Ulta was a NEN star which reversed at the 1.272 of the entire structure.
Price is above a Rectangle and possible targets in green type.
EPS estimates last quarter was $5.70 a share which ULTA beat/This quarter the number to beat is $4.13.
Revenue last quarter was estimated at 2.3 Billion and they beat by 93 million.
This quarter the number to beat is 2.21 Billion.
Numbers appear to be soft.
Earnings day is usually when the market decides what will happen. I have always found this odd, but it is what it is. It is like a stock can be overvalued for eons, then earnings day comes and everyone sells it. Price can be in a Rising Wedge for months, then Boom, down she goes on earnings day.
No recommendation.
Price is above the .236 of the trend up since the covid low. Some resistance noted at the top of the last 3 long candles.
W pattern noted.
If price does not proceed much higher than where it is now, this could be a Alternate Shark. The last W for Ulta was a NEN star which reversed at the 1.272 of the entire structure.
Price is above a Rectangle and possible targets in green type.
EPS estimates last quarter was $5.70 a share which ULTA beat/This quarter the number to beat is $4.13.
Revenue last quarter was estimated at 2.3 Billion and they beat by 93 million.
This quarter the number to beat is 2.21 Billion.
Numbers appear to be soft.
Earnings day is usually when the market decides what will happen. I have always found this odd, but it is what it is. It is like a stock can be overvalued for eons, then earnings day comes and everyone sells it. Price can be in a Rising Wedge for months, then Boom, down she goes on earnings day.
No recommendation.
Price is above the .236 of the trend up since the covid low. Some resistance noted at the top of the last 3 long candles.
Note
I should have turned the top line of the rectangle green since price is above it )o:Note
W patterns tend to reverse at the end of the 4th legNote
Looks like ULTA beat the number on earnings yet the Number was very soft. Next quarter estimates by analysts are even lower than this quarter.Dreamy world I suppose.
I guess if you make the number to beat lower and lower, most companies will beat estimates. Dunno
Note
Price is at support which is the prior resistance line of the rectangle and has met T! for targets down. If price breaks the green line then possible short to next level, or T2.Note
Pattern is not documented that I can find but I call it a W 1.414
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.