Dec. 6 at 1:58 AM
Actionable Trade Alert for
$ULTA:
Market Context:
$ULTA is currently trading at
$533.95, showing a stable price action with an RSI of 50.04, indicating a neutral momentum. The stock is positioned between its 60D high of
$572.23 and low of
$493.00, suggesting potential for upward movement.
Directional Bias: The price is above the 30-day moving average (MA30) of
$521.7 and close to the 50-day moving average (MA50) of
$531.51, indicating bullish sentiment. The ATR of 16.98 suggests moderate volatility, allowing for reasonable price swings.
Trade Plan:
- Suggested Entry:
$535.00 (slightly above the current close)
- Stop Loss:
$516.00 (below the MA30)
- Take Profit Targets:
1.
$550.00 (2.8% ROI)
2.
$570.00 (6.8% ROI)
3.
$625.00 (17% ROI)
This plan aims for a significant upside while managing risk effectively. Monitor closely for market changes.
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