Ulta Booked a New High

Published on Thursday, 19 January 2012 11:34 Written by Christopher Lynn

New York, January 19th (TradersHuddle.com) - Shares of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) booked a new 52 week high today by trading above $75.83, traders are definitely monitoring Ulta's price action to see if this move attracts further buying into the stock.

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 is currently trading 1.9% versus its previous trading session close, and it has calculated support and resistance at $63.44 and $73.78 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.49% from its previous trading close, which means that Ulta stock is outperforming the overall market.