Ares Management LP Stock Forecast
Ares Management LP stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Ares Management LP stock price fell by -0.551% on the last day (Tuesday, 2nd Jul 2024) from $136.20 to $135.45. During the last trading day the stock fluctuated 1.07% from a day low at $135.00 to a day high of $136.44. The price has risen in 6 of the last 10 days and is up by 1.06% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -630 thousand shares and in total, 768 thousand shares were bought and sold for approximately $104.08 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $132.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.54% during the next 3 months and, with a 90% probability hold a price between $135.58 and $155.63 at the end of this 3-month period.
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ARES Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.78%. Further rise is indicated until a new top pivot has been found. 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. The Ares Management LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $138.80. On a fall, the stock will find some support from the short-term average at $135.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ares Management LP stock
Ares Management LP finds support from accumulated volume at $134.64 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 $1.44 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: $128.20 (-5.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (ARES) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ares Management LP to open at $135.63, and during the day (based on 14 day Average True Range), to move between $132.12 and $138.78, which gives a possible trading interval of +/-$3.33 (+/-2.46%) up or down from last closing price. If Ares Management LP takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $134.64 (0.60%) than the resistance at $140.17 (3.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ares Management LP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ares Management LP stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.911 Buy Candidate Upgraded
Predicted Opening Price for Ares Management LP of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $135.63 ( 0.133%) | $135.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARES
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 137.07 | 1.20% |
| R2 | 136.52 | 0.790% |
| R1 | 136.18 | 0.539% |
| Price | 135.45 | |
| S1 | 135.08 | -0.273% |
| S2 | 134.74 | -0.524% |
| S3 | 134.19 | -0.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 144.75 | 6.87% |
| R2 | 143.62 | 6.03% |
| R1 | 140.17 | 3.48% |
| Price | 135.45 | |
| S1 | 134.64 | -0.598% |
| S2 | 133.76 | -1.25% |
| S3 | 131.70 | -2.77% |
ARES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.93 | 0.698% |
| 2 | May 02, 2024 | Jun 13, 2024 | Jun 28, 2024 | $0.93 | 0.698% |
| 3 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.93 | 0.699% |
| 4 | Oct 31, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.770 | 0.647% |
| 5 | Aug 01, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.770 | 0.749% |
FAQ
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