$ULTA has seen a “NoGo” correction as price has moved sideways since the beginning of February.
This price action has caused GoNoGo Oscillator to fall into negative territory. This happened at the beginning of March and signaled a concern for the current “Go” trend. Since then, NoGo bars appeared as GoNoGo Oscillator found itself on the wrong side of the zero line. However, the current price bar sees a fresh aqua “Go” bar and coincides with GoNoGo Oscillator breaking back into positive territory. This may give price the push it needs to climb above horizontal resistance and set a new high.
