Ares Capital on its way to $17.8, gaining 0.73% today

The business development company closed Friday at $17.67. Today, it went up to $18.09 only to drop back, but is still positive overall — trading around $17.8.

At the same time, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

Following today's trading session, chart analysis suggests Ares Capital Corporation could be slowing down soon as it approaches resistance at $18.29. Of course, crossing it might suggest further gains are ahead. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Ares Capital is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Ares Capital's lower Bollinger Band® is at $18.1, indicating that the market is oversold and fertile for new buyers.

With market volatility ebbing, the current technical outlook indicates Ares Capital will remain range-bound for the immediate future.

While Ares Capital is higher so far today, these financials stocks are struggling: Wells Fargo & Company is down to $38.35, losing 7.28%, after ending Friday at $41.36. After closing the previous session (Friday) at $30.27, Bank of America lost $1.73 and is trading around $28.54. American Express is down to $157.47, losing 4.97%, after ending Friday at $165.7.

Furthermore, the market is looking at United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 6%. It previously stood at 6.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.

Pointing downwards for around a month. The business development company has shed 8% over the past three months.