The Hourly View for ARES
At the moment, ARES (Get Ratings)’s price is up $0.09 (0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Out of Trading stocks, ARES ranks 105th in regards to today’s price percentage change.
ARES’s Technical Outlook on the Daily Chart
At the moment, ARES’s price is down $-0.01 (-0.02%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as ARES has now gone down 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Ares Management Corp’s price action over the past 90 days can be seen via the chart below.
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The post Ares Management Corp (ARES): Price Now Near $52.1; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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