dRends35

ARCC - Ready To Roll 🧐?

Short
dRends35 Updated   
NASDAQ:ARCC   Ares Capital Corporation
Post earnings pump ARCC is looking toppy and perhaps completing a retracement from the top right here at 0.5 fib.

Also has printed a shakeout reversal pattern through previous resistance.

It may have a last ditch flurry up to 0.618 area and 200MA and if it does i'll short some more, but good chance also i think it rejects the 100MA.

Not advice.
Comment:
Now looks like it will tag the 200MA and perhaps move up to 0.618 - 0.7 fib. Shouldn't get much further than $21 i think. Adding at 200MA and 0.618 fib.

Comment:
Also bearish div on 4H RSI. That doesn't mean it cant pop a bit higher, but it will be going lower down the road.

Comment:
It took a little while but now trending down with everything else 😸.

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