Is ARES MANAGEMENT CORP - A Ready to Break Out of Its Range?

ARES MANAGEMENT CORP - A (NYSE:ARES) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:ARES.

Deciphering the Technical Picture of NYSE:ARES

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 9 out of 10 to ARES. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• When comparing the yearly performance of all stocks, we notice that ARES is one of the better performing stocks in the market, outperforming 89% of all stocks. We also observe that the gains produced by ARES over the past year are nicely spread over this period.
• ARES is part of the Capital Markets industry. There are 209 other stocks in this industry. ARES outperforms 94% of them.
• ARES is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ARES is lagging the market slightly.
• ARES is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Our latest full technical report of ARES contains the most current technical analsysis.

How do we evaluate the setup for NYSE:ARES?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:ARES is 9:

Besides having an excellent technical rating, ARES also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 136.72. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 131.97, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ARES in the last couple of days, which is a good sign.

How to trade NYSE:ARES?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.