Buyers Are Coming for Ulta

This commentary was originally sent to Trifecta Stocks subscribers at 05:15 on May 5.

Since a strong volume move up in early March, Ulta Beauty (ULTA) has been biding its time in a low-volume consolidation.

We like a stock that moves sideways and does not lose the big price breakout, noted by the arrow.

Further, seeing that price exceeded on good turnover, as it was on May 4, shows buyers are coming in and prices are moving up to the next level.

A new high means no price resistance, and now the moving average convergence divergence (MACD) is on a confirmed buy signal.

Relative strength is solid, while momentum indicators are overbought -- not a sell signal. We could see Ulta well over $300 in the coming d
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