This morning I had some room for another position in the Barchart Van Meerten New High portfolio so I used Barchart to screen for stocks trading over 100K shares a day that were having the most frequent number of new highs in the last month. Near the top of the list was Ulta Salon Cosmetics (ULTA) with 16 new highs and a price increase of 34.48% in the last month.
Barchart technical indicators:
- 96% Barchart technical buy signal
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- Relative Strength Index of 73.99% and still rising
- Trades around 66.77 which is above its 50 day moving average of 56.31
Summary: Ulta Salon Cosmetics (ULTA) was added to the Barchart Van Meerten New High portfolio based on its recent price momentum. The fact that analysts predict double digit growth in sales and earnings and that the Motley Fool All Stars give the stock a 91% endorsement to beat the market is just more icing on the cake.
No comments:
Post a Comment