ARCC Price Prediction Next Week
Analysis and Insights
News and Sentiment Analysis:
Ares Capital (ARCC) has been highlighted as a top dividend-paying stock with a "Perfect 10" Smart Score, indicating strong analyst confidence. Recent insider buying activity, including a purchase of 40,000 shares by Co-President James Miller, signals positive sentiment. However, the stock is trading at a premium to its net assets per share, which could limit near-term gains.
Technical Indicators:
- RSI (6, 12, 14): 52.24, 50.18, 50.49 (neutral, no overbuying/overselling)
- MACD: -0.03 (slightly bearish but near zero)
- Stochastic Oscillator: 25.14/24.33 (undersold territory)
- Fibonacci Levels: Pivot at 22.97, resistance at 23.48 and 23.80, support at 22.14 and 21.63
Price Prediction and Recommendation:
Based on the analysis, Ares Capital is expected to trade between 22.14 and 23.80 next week. The stock is likely to test the resistance level of 23.48, with a potential upside to 23.80 if it breaks above this level. Given the strong dividend yield and improving sentiment, the stock is a BUY at current levels.
Predicted Price: 23.80
Recommendation: BUY
ARCC Similar Chart Price Prediction
The price of ARCC is predicted to go up -8.03%, based on the high correlation periods with INSG. The similarity of these two price pattern on the periods is 94.58%.
ARCC
INSG
Down: -8.03%Similarity: 94.58%
ARCC Revenue Forecast
ARCC EPS Forecast
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ARCC Analyst's Forecast
Bryce Rowe
B. Riley Securities
Hold
2024-10-31
Price Target
$21 → $22
Upside
+4.07%
Ares Capital Corporation announced that James Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital's Board of Directors was expanded by one member. Mitchell Goldstein joined Ares Capital's Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital's Board of Directors. Michael Arougheti will cease to serve as Chairman of Ares Capital's Board of Directors but will continue to serve as a Director. Kipp deVeer will continue in his role as a Director and Chief Executive Officer. Jim Miller joined Ares in 2006 and serves as Co-Head of the Ares U.S. Direct Lending strategy and is a member of the Investment Committee of Ares Capital's investment manager. He also co-leads the Ares Sports, Media and Entertainment strategy and serves on its Investment Committee. Jim Miller holds a B.A. from Fairfield University in Economics and an M.B.A. from Columbia Business School.
