Ulta Beauty's 15min Chart Triggers Bearish Marubozu, Bollinger Bands Expand Downward

According to the 15-minute chart of Ulta Beauty, the Bollinger Bands are currently expanding downward, indicating a bearish trend. The recent occurrence of a Bearish Marubozu candlestick pattern on October 29, 2022, at 11:30 further reinforces this sentiment. These technical indicators suggest that the market trend is being driven by sellers, implying that they have control over the market and bearish momentum is likely to persist.