The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Franklin Resources (BEN)

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Summary:
Weekly :
Daily :Lane's Stochastic is oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 24.23
Williams' Percentage Range (W%R) 65.70
Lane's Stochastic (%D-Slow) 18.88
Oversold
Greed/Fear Indicator (GFI) 25.81
Moving Average Converg./Diverg. (MACD) 0.79
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.28
Williams' Percentage Range (W%R) 54.10
Lane's Stochastic (%D-Slow) 79.29
Greed/Fear Indicator (GFI) 60.48
Moving Average Converg./Diverg. (MACD) -2.06
Trading Signals
Description Value Chart
Upper Bollinger Band 23.47
Parabolic System 22.71
Weekly Stochastic Crossing 22.68
20 Day Moving Average 21.73
Daily Stochastic Crossing 20.39
Price 20.04
50 Day Moving Average 19.38
Lower Bollinger Band 18.76
Monthly Trendline Support 18.66
Sector and Industry
Description Name Rank
Sector Financials 5
Industry Asset Management & Custody Banks 74
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 23.15
High Date 06/16/2020
Low 19.89
Low Date 06/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 24.33
High Date 06/08/2020
Low 19.89
Low Date 06/26/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 27.77
Support 18.66
Low 14.91
Low Date 04/16/2020
High 24.33
High Date 06/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 35.59
Support 11.14
High 35.82
High Date 04/15/2019
Low 14.91
Low Date 04/16/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 47.65
High Date 07/26/2017
Low 14.91
Low Date 04/16/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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