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Daily MACD Divergence:Bullish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 5/31/2024 -
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Franklin Resources (BEN) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldStochastic has raised above the signal line
Daily :
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It was a first positive week for the Franklin Resources (BEN). During the week, the BEN gained 0.27 points, or 1.16%, and closed at 23.60 on Friday, May 31, 2024. Weekly volume was 16% 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 November 2, 2021 at 38.27 and reached 20.24 on October 13, 2022. BEN lost 18.03 points, or 47.11%, in 49 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 22.79 and resistance is at 30.23. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See BEN medium-term trend chart]
A medium-term uptrend had started on October 31, 2023 at 21.88 and reached 30.32 on December 27, 2023. BEN gained -8.44 points, or -38.57%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (30.50) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 28, 2024. 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 May 15, 2024 at 24.86 and reached 22.63 on May 29, 2024. BEN lost 2.23 points, or 8.97%, in 14 days. The price is now at the 43.50% retracement level.

Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 30, 2024. The distance between MACD and the signal line is low and getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.27
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 22.31
Greed/Fear Indicator (GFI) 30.70
Moving Average Converg./Diverg. (MACD) -0.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.56
Williams' Percentage Range (W%R) 92.90
Strong Oversold
Lane's Stochastic (%D-Slow) 14.38
Oversold
Greed/Fear Indicator (GFI) 20.20
Moving Average Converg./Diverg. (MACD) -0.26
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 26.73
50 Day Moving Average 25.02
Upper Bollinger Band 24.72
Parabolic System 24.41
20 Day Moving Average 23.66
Price 23.60
Weekly Stochastic Crossing 23.46
Daily Stochastic Crossing 22.96
Lower Bollinger Band 22.79
Yearly Trendline Support 22.79
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Asset Management & Custody Banks 60
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 24.86
High Date 05/15/2024
Low 22.63
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 28.61
High Date 03/12/2024
Low 22.63
Low Date 05/29/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.32
High Date 12/27/2023
Low 22.63
Low Date 05/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 26.73
Support 30.50
Low 21.88
Low Date 10/31/2023
High 30.32
High Date 12/27/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 30.23
Support 22.79
High 38.27
High Date 11/02/2021
Low 20.24
Low Date 10/13/2022
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.