Market Overview

Ulta, Valero, And 3 Other Stocks Showing Signs Of More Upside This Week

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The following five stocks are currently in the midst of uptrends according to VantagePoint, an AI charting platform that uses intermarket analysis to predict future price action 1-3 days in advance.

A couple of things to know in order to understand the charts below:

  • Each chart is a 3-month chart. Candles represent one day of trading
  • The blue line is a predicted moving average that forecasts a what a stock's 6-day moving average will be in 72 hours. The black line is a simple 10-day moving average
  • When the blue line crosses above the black, that's a bullish signal. When the black crosses over the blue, that's bearish. 
  • For a more detailed look at VantagePoint's charts, click here.

Ulta Beauty

Despite reporting less-than-stellar Q4 sales and earnings figure, Ulta Beauty, Inc. (NASDAQ: ULTA) has been on quite a run. The stock had a predictive moving average crossover to the upside on April 9, and since then the stock is up nearly 20 percent. You can see how, even in the face of several down days, ULTA has steadily risen. As long as the two moving averages don't converge, expect this uptrend to keep going.

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HollyFrontier

HollyFrontier Corporation (NYSE: HFC) follows a similar pattern. VantagePoint's indicators signaled the beginning of an uptrend on March 9 when the stock was at $46.52. In the two months since, shares of HFC have risen to $66 as of this writing, a 41 percent increase. 

With the blue 72-hour predicted 6-day moving average continuing to stay above the simple 10-day moving average, the uptrend will continue, in spite of Tuesday's weakness.

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Valero Energy

Valero Energy Corporation's (NYSE: VLO) bullish crossover came on April 4 when the stock closed at $93.35. Since then it has spiked dramatically up 20 percent, at one point hitting an all-time high of $115.48 before pulling back slightly. This is one trend that doesn't look like it's slowing down any time soon. 

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Kellogg

Kellogg Company (NYSE: K) is a little bit of a different story. As you can see, the stock's been pretty out of favor of late. But that downtrend looks like it could be ending, as the last two days of price action have led to the blue line crossing over the black. In the chart below, the blue line predicts what K's 6-day moving average will be in 48 hours (as opposed to the 72 hours in the other charts). 

We'll have to see if the stock can sustain the upward momentum in the coming days enough to confirm a complete crossover, and if that does happen the stock could look to regain some of its losses from 2018. 

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Citrix Systems

Citrix Systems, Inc. (NASDAQ: CTXS) had a very clear crossover to the upside on April 11, and since that day's close the stock is up 15 percent. This one is interesting also because the two moving averages have also recently diverged even further, indicating that the uptrend has only gotten stronger since the company posted an excellent Q1 earnings and Q2 guidance report that came in well above Wall Street's expectations. 

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Watch the full Hot Stocks Outlook below. 

VantagePoint is a content partner of Benzinga. For a live demo click here.

Posted-In: vantagepointLong Ideas Technicals Previews Markets Trading Ideas General

 

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