Ares Capital gaining 4.46% and hovering around the $19 level.
United States's Consumer Confidence new data released of 102.5 below its previous figure.
Ares Capital's uptick comes amid disappointing United States macroeconomic data released during the session – United States Consumer Confidence published today at 14:00 UTC came out at 102.5, falling short of the 106.5 projections and continuing its decline from the previous 107.8 figure.
At the same time, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) released today at 13:00 UTC with a figure of 13.1, while the previous figure was 16. United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
Ares Capital Corporation made an initial breakout above its 50 day Simple Moving Average at $18.76, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $18.36 to $19.09, Fibonacci-inclined Ares Capital traders were highly concentrated around active Fibonacci resistance at $18.94. Ares Capital has crossed the upper Bollinger Band® at $18.7, a potential sign that further gains are to follow. In contrast, Ares Capital could be slowing down soon; it is getting close to the resistance line and is now at $19.27, only 28 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Ares Capital might continue pointing upwards in the short term.
Rallies can also be seen in other financials stocks, PayPal is up 5.94%. American Express is trading at $147 after ending yesterday's session at $141.63 (up 3.8%).
At the same time, after closing the previous session (yesterday) at $26.94, HSBC Holdings lost $1.34 and is trading around $25.61.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 200,000, having previously been at -1.73 million. The figure will be published tomorrow at 14:30 UTC.
Elsewhere, United States New Home Sales (Sep) scheduled to come out tomorrow at 14:00 UTC.
After hitting an important low of $16.84 approximately 26 days ago, Ares Capital has bounced back 7.96% since.