On Monday, Ares Capital reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 76 the day before.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they launch their biggest price moves.
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Ares Capital is trying to complete a flat base with a 23.84 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
The company reported -13% earnings growth last quarter. Revenue increased 7%.
The company holds the No. 48 rank among its peers in the Finance-Investment Management industry group. P10, Trinity Capital and Equitable Holdings are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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