The beauty products retailer lost support at its 50-day moving average Friday despite another strong quarterly report, with shares diving 6% Friday to 254.85.
See if the top-rated stock can retake that level, which would be bullish, or if hits resistance at the line.
IBD’S TAKE: Despite Friday’s negative action, Ulta Beauty shares have been on a big run, with the stock up 35% from a buy point cleared in March. To see which top-rated stocks are presenting buying opportunities now, check out the “Leaders Near A Buy Point” section on Leaderboard.
Silicon Motion Tech
Though a drop below the 50-day line is bearish, it doesn’t necessarily spell doom and gloom. Chipmaker Silicon Motion Tech recently broke below its 50-day line for the first time since February, but is working to regain that level.
On Friday, it closed up 3.55% at 50.61, just 1% below the 50-day.
Leaderboard member Line re-cleared an aggressive entry at 42.46 Friday, and is trading in the 5% buy range. The Japan-based social network had cleared another buy point at 44.59 on Aug. 15, but recently triggered a sell signal by falling more than 5% below the pivot.
Acacia, which makes high-speed telecom gear components, is trading 13.6% below its recent all-time high, but it has found support at the 100 price level. Shares presented a buying opportunity with an IPO base buy point of 43.20, and after initially fading back below that level amid Brexit, it’s now up more than 150% from that level.