High Above Average Volume on Ulta

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High Above Average Volume on Ulta

Published on Friday, 03 September 2010 11:46 Written by Danny Miller

ulta New York, September 3rd (TradersHuddle.com) - Unusual high volume detected on shares of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA), early in the trading session. Ulta is currently trading higher by 15.7%, so definitely the buyers stepping in, as the stock's volume is already above average.

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) is a beauty retailer that sells cosmetics, fragrances, skin and hair care products, and accessories. The Company also offers hair salon services, manicures, pedicures, massages, and other beauty & spa treatments.

Ulta has already traded 2.427 times its 3-month average volume, and has calculated support and resistance at $20.67 and $23.98 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.72% from its previous trading close, which means that Ulta stock is outperforming the overall market.