Ulta Beauty (ULTA) stock witnessed a slight decline in its latest intraday trading, as the stock attempts to gain positive momentum that may help it recover and rise again. The short-term corrective bullish trend remains in control, with trading moving along a supportive slope line for this path. The stock also continues to benefit from positive pressure generated by trading above its previous 50-day SMA, in addition to the flow of positive signals in the Stochastic indicators.

Therefore, we expect the stock to rise in its upcoming trading, as long as it remains stable above 491.98, to then target the key resistance level of 562.80.

Todays price forecast: Bullish.