Ulta Beautys stock price (ULTA) fell in the intraday levels, amid the dominance of the downward trend, as it trades alongside the secondary short-term trend line, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect more losses for the stock, targeting the pivotal support of $368.00, provided the resistance of $417.40 holds on.
Trend forecast: Bearish