ARES MANAGEMENT CORP - A (NYSE:ARES) showing some interesting technicals. Here's why.

We've identified ARES MANAGEMENT CORP - A (NYSE:ARES) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:ARES for further developments.

In-Depth Technical Analysis of NYSE:ARES

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

Overall ARES gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ARES is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that ARES is one of the better performing stocks in the market, outperforming 88% 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 219 other stocks in this industry. ARES outperforms 88% of them.
• ARES is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so ARES is leading the market.
• In the last month ARES has a been trading in the 169.01 - 185.06 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

For an up to date full technical analysis you can check the technical report of ARES

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:ARES currently has a 9 as setup rating:

ARES has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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 182.46. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 176.03, 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 can NYSE:ARES be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order 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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

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.