ARES: Bearish reversal at resistance

6/19/2026 – Although Ares Management Corp. (ARES) has rallied sharply from its early-March low, the advance is stalling at a significant resistance zone from 138.50 up to 148.57 (declining 40-week moving average (WMA), chart resistance, and the 50% and 61.8% retracements of the December 2025 to March 2026 decline). This week's opening gap higher, followed by a reversal and close below the midpoint of the prior week's white candle real body, completed a bearish dark cloud cover pattern (see Chart 2).

In our view, this increases the risk of renewed downside for ARES. A move below 128 (38.2% retracement and rising 200-WMA) would confirm the weekly bearish dark cloud cover and favor continued weakness to 119.51 (rising 13-WMA), 105 (100% extension of the February-April 2025 decline projected from the August 2025 peak), and then toward 95.80-90.48 (March low and 161.8% extension of the August-October 2025 decline projected from the December 2025 peak).

It would take a rally above 138.50-148.57 to negate this bearish setup on ARES.

Rebounds within bearish trends, as defined by declining 26- and 40-WMAs, for ARES relative to the S&P 500 (SPX) and on the stock's volume advance decline indicator (VAD) corroborate the bearish setup on the absolute price chart.

Chart 1: Ares Management Corp. (ARES) (top), relative to the S&P 500 (center), and volume advance decline indicator (bottom): Weekly chart

Chart 2: Ares Management Corp. (ARES): Weekly chart

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