Ulta Beauty (ULTA) Clearing Trendline Back Into Value Area
Ulta Beauty (ULTA) shares are breaking above a trendline from early June and recapturing monthly value area after starting July below it and finding support near its 200-day EMA. A name that has shown relative strength most of the past few months and is only down -3.5% YTD. Staying above 387 low from Friday can likely target the monthly value high at 412 and potentially a gap fill at 422. ULTA recently on 6/30 saw July 22nd $360 calls bought at $32.47 for $1M total and remains in OI.