Interesting situation with ULTA
ULTA is a powerful stock – very similar to Disney. ULTA has been disrespecting Wall Street for some time and even recently.
[Missed opportunity for a snipe in second pic below – learning from this. The first annotation shows that a snipe was possible. The difficulty was locating the opportunity. The second pic shows how it could have been done.]
However, the bullishness on the stock could be coming to an end. The analysis below shows the reasoning behind this expectation. Do keep in mind that if we say ‘stock’ we mean ‘instrument’, as this site is not about buying or owning stocks.
The lesson here is to set an alert on a lower time frame e.g 15 min chart – for a spike in RSI and/or price.
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