Ares Management LP Stock Forecast
Ares Management LP stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Ares Management LP stock price fell by -2.06% on the last day (Friday, 3rd May 2024) from $134.64 to $131.87. During the last trading day the stock fluctuated 2.95% from a day low at $131.82 to a day high of $135.72. The price has fallen in 6 of the last 10 days but is still up by 1.81% 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 -2 million shares and in total, 1 million shares were bought and sold for approximately $143.04 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ares Management LP stock with a 90% probability to be traded between $129.46 and $137.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ARES Signals & Forecast
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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $133.36 and $132.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -3.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 with a target of $133.53. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Ares Management LP stock
Ares Management LP finds support from accumulated volume at $131.70 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 $3.90 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARES) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ares Management LP to open at $133.14, and during the day (based on 14 day Average True Range), to move between $128.24 and $135.50, which gives a possible trading interval of +/-$3.63 (+/-2.75%) up or down from last closing price. If Ares Management LP takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $131.70 (0.13%) than the resistance at $134.64 (2.10%), 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?
Ares Management LP holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.976 Sell Candidate Downgraded
Predicted Opening Price for Ares Management LP of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $133.14 ( 0.96%) | $131.87 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 137.03 | 3.91 % | |
| R2 | 135.54 | 2.78 % | ||
| R1 | 134.62 | 2.09 % | ||
| Current price: | 131.87 | |||
| Support | S1 | 131.65 | -0.169 % | |
| S2 | 130.73 | -0.87 % | ||
| S3 | 129.24 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 136.71 | 3.67 % | |
| R2 | 135.55 | 2.79 % | ||
| R1 | 134.64 | 2.10 % | ||
| Current price | 131.87 | |||
| Support | S1 | 131.70 | -0.129% | |
| S2 | 130.80 | -0.81% | ||
| S3 | 130.17 | -1.29% |
ARES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.93 | 0.699% |
| 2 | Oct 31, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.770 | 0.647% |
| 3 | Aug 01, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.770 | 0.749% |
| 4 | Apr 28, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.770 | 0.799% |
| 5 | Feb 09, 2023 | Mar 16, 2023 | Mar 31, 2023 | $0.770 | 0.92% |
FAQ
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