Ulta Beauty Inc Stock Forecast
Ulta Beauty Inc stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Ulta Beauty Inc stock price fell by -0.159% on the last day (Wednesday, 27th Mar 2024) from $514.34 to $513.52. During the last trading day the stock fluctuated 1.90% from a day low at $507.02 to a day high of $516.66. The price has fallen in 9 of the last 10 days and is down by -9.46% for this period. Volume has increased on the last day by 37 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 899 thousand shares were bought and sold for approximately $461.52 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $508.13 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.57% during the next 3 months and, with a 90% probability hold a price between $587.23 and $670.28 at the end of this 3-month period.
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ULTA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 1.57%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ulta Beauty Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $518.63 and $537.66. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ulta Beauty Inc stock
Ulta Beauty Inc finds support from accumulated volume at $507.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $9.64 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: $489.11 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ULTA) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Ulta Beauty Inc to open at $512.40, and during the day (based on 14 day Average True Range), to move between $500.07 and $526.97, which gives a possible trading interval of +/-$13.45 (+/-2.62%) up or down from last closing price. If Ulta Beauty Inc takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $507.99 (1.08%) than the resistance at $535.98 (4.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ulta Beauty Inc stock A Buy?
Ulta Beauty Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.633 Hold/Accumulate Upgraded
Predicted Opening Price for Ulta Beauty Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$512.40 ( 0.218%) | $513.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ULTA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 522.04 | 1.66 % | |
R2 | 518.36 | 0.94 % | ||
R1 | 516.08 | 0.499 % | ||
Current price: | 513.52 | |||
Support | S1 | 508.72 | -0.94 % | |
S2 | 506.44 | -1.38 % | ||
S3 | 502.76 | -2.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 565.44 | 10.11 % | |
R2 | 548.56 | 6.82 % | ||
R1 | 535.98 | 4.37 % | ||
Current price | 513.52 | |||
Support | S1 | 507.99 | -1.08% | |
S2 | 505.57 | -1.55% | ||
S3 | 493.22 | -3.95% |
ULTA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 08, 2012 | Mar 16, 2012 | May 15, 2012 | $1.00 | 1.14% |
FAQ
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