The beauty retailer's charts have improved greatly from March but face overhead resistance ahead.
Their partnerships with Target and Walmart continue to perform well.
The broad market may be soft for another week but if I find more stocks in a similar position as JNJ I won't see a reason to join the bear camp.
Traders could probe the long side of EL on any one to two day dip or minor pullback.
More is needed than recent positive fundamental news and a bullish price gap.
Checking out the current quality of the charts of this iconic brand amid coronavirus fears.
Let's check out the charts.
Take a half position in this name and wait for the relative strength to climb back up.
Hopefully you did not get caught wrong footed on ULTA.
A look at the retailer's charts and indicators ahead of earnings.