Ares Capital Corporation Stock Forecast
Weaker technical forecast for Ares Capital Corporation as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Ares Capital Corporation stock price fell by -1.49% on the last day (Thursday, 2nd May 2024) from $20.85 to $20.54. During the last trading day the stock fluctuated 2.29% from a day low at $20.53 to a day high of $21.00. The price has risen in 7 of the last 10 days and is up by 0.59% over the past 2 weeks. Volume has increased on the last day by 369 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $87.62 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.90% during the next 3 months and, with a 90% probability hold a price between $20.82 and $21.73 at the end of this 3-month period.
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ARCC Signals & Forecast
The Ares Capital Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $20.72. On a fall, the stock will find some support from the long-term average at approximately $20.42. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -1.49%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, March 25, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, March 25, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Ares Capital Corporation stock
Ares Capital Corporation finds support from accumulated volume at $20.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.470 between high and low, or 2.29%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: $19.84 (-3.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ARCC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Ares Capital Corporation to open at $20.69, and during the day (based on 14 day Average True Range), to move between $20.29 and $20.79, which gives a possible trading interval of +/-$0.253 (+/-1.23%) up or down from last closing price. If Ares Capital Corporation takes out the full calculated possible swing range there will be an estimated 2.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.73 (0.93%) than the support at $20.24 (1.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ares Capital Corporation stock A Buy?
Ares Capital Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.333 Hold/Accumulate Downgraded
Predicted Opening Price for Ares Capital Corporation of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$20.69 ( 0.730%) | $20.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARCC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.16 | 3.02 % | |
R2 | 20.98 | 2.14 % | ||
R1 | 20.87 | 1.60 % | ||
Current price: | 20.54 | |||
Support | S1 | 20.51 | -0.144 % | |
S2 | 20.40 | -0.684 % | ||
S3 | 20.22 | -1.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.82 | 1.36 % | |
R2 | 20.78 | 1.17 % | ||
R1 | 20.73 | 0.93 % | ||
Current price | 20.54 | |||
Support | S1 | 20.24 | -1.46% | |
S2 | 20.19 | -1.70% | ||
S3 | 20.11 | -2.09% |
ARCC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 07, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.480 | 2.31% |
2 | Oct 24, 2023 | Dec 14, 2023 | Dec 28, 2023 | $0.480 | 2.39% |
3 | Jul 25, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.480 | 2.47% |
4 | Apr 25, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.480 | 2.55% |
5 | Feb 07, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.480 | 2.63% |
FAQ
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