Ares Dynamic Credit Allocation Fund Inc Stock Forecast

Ares Dynamic Credit Allocation Fund Inc stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)

ARDC Signals & Forecast

The Ares Dynamic Credit Allocation Fund Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.92 and $14.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.434%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Ares Dynamic Credit Allocation Fund Inc stock

Ares Dynamic Credit Allocation Fund Inc finds support from accumulated volume at $13.63 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0547 between high and low, or 0.396%. For the last week the stock has had daily average volatility of 1.07%

Ares Dynamic Credit Allocation Fund Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $12.99 (-6.37%) (This stock has low daily movements and this gives low risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (ARDC) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Ares Dynamic Credit Allocation Fund Inc to open at $13.86, and during the day (based on 14 day Average True Range), to move between $13.73 and $14.01, which gives a possible trading interval of +/-$0.140 (+/-1.01%) up or down from last closing price. If Ares Dynamic Credit Allocation Fund Inc takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.99 (0.87%) than the support at $13.63 (1.73%), 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 Dynamic Credit Allocation Fund Inc stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.721 Buy Candidate Upgraded

Predicted Opening Price for Ares Dynamic Credit Allocation Fund Inc of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.