Ulta Beauty gathers positive momentum - Analysis - 03-08-2022

Ulta Beauty's stock (ULTA) declined amid negative signals from the RSI, marking a loss of 0.35%, or 1.38 points, and settling at 392.90, and leaning on the support of the 50-day SMA, amid attempts to gather momentum and recover anew, amid the dominance of the main upward medium-term trend. 

Therefore we expect the stock to return higher and target the pivotal resistance of 438.60, provided the support of 382.40 holds on.

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Expected trend for today: Bullish