Franklin Resources (BEN)
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|It was the negative week for the Franklin Resources (BEN). During the week, the BEN dropped -1.91 points, or -8.70%, and closed at 20.04 on Friday, June 26, 2020. It was the worst weekly loss since March 13, 2020. Weekly volume was -53% below average. |
Long-term trend: [See BEN long-term trend chart]
A long-term downtrend had started on April 15, 2019 at 35.82 and reached 14.91 on April 16, 2020. BEN lost 20.91 points, or 58.38%, in 52 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 11.14 and resistance is at 35.59. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
Medium-term trend: [See BEN medium-term trend chart]
A medium-term uptrend had started on April 16, 2020 at 14.91 and reached 24.33 on June 8, 2020. BEN gained -9.42 points, or -63.18%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 18.66 and resistance is at 27.77. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See BEN short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 24.33 and reached 19.89 on June 26, 2020. BEN lost 4.44 points, or 18.25%, in 18 days. Price is near the trend low.
Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since June 18, 2020. This is an indication that the short-term trend is down.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.