Ulta stock is deeply oversold due to earnings sell-off. Should you buy the dip?
Shares of Ulta Beauty (ULTA) plunged on Friday after the largest U.S. cosmetics retailer missed earnings estimates for its fiscal fourth quarter and issued dovish guidance for the full year. The post-earnings decline pushed ULTA’s Relative Strength Index (14-day) below 20, indicating extremely oversold conditions that often precede a relief rally. Following recent declines, Ulta…