Let's See How Ulta Looks in the Mirror After Earnings
Ulta Beauty gapped sharply lower Friday after the cosmetics retailer reported earnings and noted that margin expectations for the coming quarters are shifting lower. The On-Balance-Volume (OBV) line shows weakness from the beginning of May. The Moving Average Convergence Divergence (MACD) oscillator is in a bearish alignment below the zero line. The weekly OBV line has started to turn down and the MACD oscillator crossed to the downside in March/April for a take profit sell signal.