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Downtrend Broken Resist.Archive
- 12/13/2024 -
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Franklin Resources (BEN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Franklin Resources (BEN). During the week, the BEN climbed 0.05 points, or 0.23%, and closed at 21.97 on Friday, December 13, 2024. Weekly volume was 13% above average.
BEN is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See BEN long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 34.37 and reached 18.95 on September 11, 2024. BEN lost 15.42 points, or 44.86%, in 83 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (17.94) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See BEN medium-term trend chart]
A medium-term uptrend had started on September 11, 2024 at 18.95 and reached 23.27 on December 4, 2024. BEN gained -4.32 points, or -22.80%, in 12 weeks. The price is now at the 30.09% retracement level.
 Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 weekly MACD line is above its signal line since October 18, 2024. This is an indication that the medium-term trend is up. 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 December 4, 2024 at 23.27 and reached 21.80 on December 13, 2024. BEN lost 1.47 points, or 6.32%, in 9 days. The price is now at the 11.56% retracement level.
 Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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