ULTA, WYNN, X update 1/29

ULTA: No EWT count but a simple look at price patterns where we can observe two likely ascending bullish triangles. The smaller targets $290, the larger $315.



WYNN: Good earnings propelled the stock higher on Friday. But price has been range bound for almost a year and now needs to break above $105 to $110 to show wave 3/C is indeed underway targeting $160-$170.  Alternatively the symmetry breakout target (blue arrow) is $140. Regardless, lots of upside potential.



X: Looks good for an intermediate wave v of major 3 in the making. The recent high (red iii) hit the 1.618x extension of prior wave i, from ii to the T; suggesting this is the correct count. Also, price has now retraced within the ideal wave iv target zone. Hence, the risk-reward looks good. Stops can be set at $27.15 as that would cause a violation of wave iv with the wave i high, which is not allowed.