A quick look at yesterday: after closing at $18.25 on Friday, Ares Capital maintained a strong bullish bias that helped the stock close higher at $18.39 yesterday. However, market bears ensured the the business development company topped out at $18.43 and that by the end of the session, the market had marked out a distinct $18.31 to $18.43 range.

At the same time, United States TIC Net Long-Term Transactions (Mar) released yesterday at 20:00 UTC with a figure of 133.3 billion, while the previous figure was 56.6 billion. United States NY Empire State Manufacturing Index (May) came out at -31.8, while a consensus of analysts was expecting -3.7.

Ares Capital Corporation is 5 cents away from testing key resistance at $18.44. Peaking above this level could inspire market bulls and open the path to further gains. Bollinger Band® analysis indicates that current price action is approaching the upper band at $18.63, thereby suggesting that Ares Capital is becoming overvalued. In contrast, Ares Capital is currently trading around the $18.4 Fibonacci resistance level.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Ares Capital is set for a reversal in the coming days.

This rally in Ares Capital's share price coincided with other financials stocks as Wells Fargo & Company added 3.41% to its value, and traded at $38.77. HSBC Holdings was up 2.51%. Royal Bank Of Canada gained 1.39%, as it traded at $97.22.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Retail Sales is projected to outperform its last figure with 0.8%, having previously been at -0.6%. The figure will be published today at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released today at 12:30 UTC.

Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.3 million from the preceding figure of 2.95 million.

The stock has been trending positively for about a month. The financial solutions provider is now trading 6.65% below its 3-month high of $20.7.