Ulta Beauty (ULTA): A Major Wave 4 Correction in Progress

SUMMARY

Ulta Beauty (ULTA) has been correcting into a wave 4 decline. While it can't overlap with wave 1; it still has more decline likely to go.

The subwaves qualify the higher degree of trend labels. The red ABC of wave 4 shows that red B is already or is about to complete. The subsequent wave C down will shock many unsuspecting shareholders.

The MACD looks ready to roll over as well. IF this count is correct, then the red C decline will also have the MACD pull down to the oversold zone.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

--

__