Ares Capital ticks up 0.99% in after hours trading; currently at $18.43

Yesterday at a glance: Ares Capital shed 2%, falling to $18.25.

Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. United States Retail Sales published yesterday at 12:30 UTC came out at -1%, falling short of the -0.4% projections and continuing its decline from the previous -0.2% figure.

While price action maintains a negative bias, United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.

Ares Capital Corporation made an initial break below its 50 day Simple Moving Average at $18.72, a possible indication of a forthcoming negative trend. Ares Capital is currently flirting with an active Fibonacci support level around $18.4. Ares Capital's upper Bollinger Band® is at $18.7 which indicates a further downward move may follow. In contrast, Ares Capital could begin to recover as it approaches significant support, now 25 cents away from $18. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Ares Capital to extend its recent losses.

On the other hand, positive performances could be seen by looking at other financials stocks as JP Morgan Chase traded at $138.73 after closing yesterday's trading day at $129 (up 7.55%). BlackRock traded at $691.33 after closing yesterday's trading day at $670.73 (up 3.07%). Bank of America was up 3.36%.

Having soared to a high of $22.44 approximately 11 months ago, the financial solutions provider is now trading 17% lower.