Ares Capital Corp (ARCC) has a beautiful chart and this week's price action suggests this trend should continue. After consolidating sideways, the chart continued its upward ascent out of the trading range.
The MACD had pulled back to the centre line and turned back up today. One thing to notice is the dividend yield is a healthy 8.65 %. Focusing in on strong stocks with a large dividend makes this a nice find.
Good trading,
Greg Schnell, CMT, MFTA
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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