Franklin Resources (BEN)
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|It was a second consecutive positive week for the Franklin Resources (BEN). During the week, the BEN climbed 0.12 points, or 0.49%, and closed at 24.61 on Friday, May 26, 2023. Weekly volume was -29% below average. |
Long-term trend: [See BEN long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 20.24 and reached 34.37 on February 2, 2023. BEN gained -14.13 points, or -69.81%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (38.05) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. BEN may retest the broken support line. It is considered to be a resistance line now. 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 long-term trend.
Medium-term trend: [See BEN medium-term trend chart]
A medium-term downtrend had started on February 2, 2023 at 34.37 and reached 23.93 on May 24, 2023. BEN lost 10.44 points, or 30.38%, in 15 weeks. The price is now at the 6.51% retracement level.
Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 10, 2023. This is an indication that the medium-term trend is down. 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 1, 2023 at 28.50 and reached 23.93 on May 24, 2023. BEN lost 4.57 points, or 16.04%, in 23 days. The chart has formed a Descending Triangle chart pattern.
Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.