Ulta Beauty Inc

ULTA is carving out a base beneath the 200-day SMA after a failed breakout and showing exhaustion in near-term momentum. While the medium-term uptrend remains intact under Stage 2, the recent long upper wick and falling RSI caution against immediate participation. Execution should be deferred and focus on pullbacks into the 20-day EMA and 50-day SMA as potential buy zones, while a decisive reclaim of the 200-day SMA would reinstate bullish conviction.

• ↑Net sales rose 11.1% YoY to $3.2B; comp sales +5.3%; EPS +15.5% to $7.74.
• ↑47M loyalty members boost repeat purchases and engagement.
• ↓Operating margin down to 10.8% from 12.6% amid rising SG&A costs.