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Advanced TA SearchArchive
- 4/26/2024 -
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Franklin Resources (BEN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Franklin Resources (BEN). During the week, the BEN gave back -0.16 points, or -0.64%, and closed at 24.99 on Friday, April 26, 2024. Weekly volume was 97% 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 22.64 and resistance is at 30.53. 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 (29.08) 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 Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 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 March 12, 2024 at 28.61 and reached 24.40 on April 16, 2024. BEN lost 4.21 points, or 14.72%, in 35 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 23.54 and resistance is at 27.38. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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