ARES ACQUISITION CORP-A (AAC) Stock Technical Analysis
NYSE:AAC - New York Stock Exchange, Inc. - KYG330321061 - Common Stock - Currency: USD
Overall AAC gets a technical rating of 8 out of 10. In the last year, AAC was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
Looking at the yearly performance, AAC did better than 71% of all other stocks. We also observe that the gains produced by AAC over the past year are nicely spread over this period.
AAC is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month AAC has a been trading in the 9.01 - 10.80 range, which is quite wide. It is currently trading near the high of this range.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
Although AAC has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
9.64
10.91
We found 2 important support areas.
- A support zone ranging from 10.48 to 10.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.74 to 9.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 10.80 to 10.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for AAC is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for AAC is up. |
| ChartMill Relative Strength | 71.61 | POSITIVE | AAC has a high relative strength, it outperformed 71.61% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of AAC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of AAC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of AAC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.97 | NEUTRAL | The RSI value for AAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests AAC has a positive trend. |
| Stochastics (14,3) | 98.7 | OVERBOUGHT | The high Stochastics value suggests AAC may be overbought. |
| Average True Range in percent/ATR (20) | 1.67 | LOW VOLATILITY | The low ATR as a percentage value for AAC suggests low volalility. |
| Average Directional Index/ADX (14) | 32.76 | POSITIVE | The high ADX value value for AAC suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 10.81 | 10.47 | 0.34 (3.15%) | 25.00% |
| An entry @10.81. This is a Buy Stop order right above the resistance zone. | An exit @10.47. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.34 points, which is 3.15%. | For a 0.79% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of AAC. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NYSE:AAC (11/6/2023, 8:04:00 PM)
10.79
+0.02 (+0.19%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.19%
1 Week9.43%
2 Weeks0.28%
1 Month0.19%
3 Month1.31%
6 Month3.25%
12 Month7.95%
2 Year10.21%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.25
ATR(20)%1.67%
ATR Inc-93.97%
Range Today0.02
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.61
Mansfield-0.05
10 Day High10.8
10 Day Low9.01
20 Day High10.8
20 Day Low9.01
52 Week High10.8
52 Week Low9.01
CS1 End10.76
CR1 Start10.8
Volume & EV
DER(3)-1.15%
DER(5)-2.19%
Volume599.70K
Volume Incr235.58%
Vol(5)487.52K
Vol(50)143.01K