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 :Relative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldStochastic has raised above the signal lineBroken trend support line
Daily :Williams' Percentage Range is oversoldDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.94
Williams' Percentage Range (W%R) 90.10
Strong Oversold
Lane's Stochastic (%D-Slow) 41.48
Greed/Fear Indicator (GFI) 30.09
Moving Average Converg./Diverg. (MACD) -0.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 14.93
Oversold
Williams' Percentage Range (W%R) 95.70
Strong Oversold
Lane's Stochastic (%D-Slow) 12.20
Oversold
Greed/Fear Indicator (GFI) 18.24
Oversold
Moving Average Converg./Diverg. (MACD) -0.02
Trading Signals
Description Value Chart
Upper Bollinger Band 25.95
50 Day Moving Average 25.89
20 Day Moving Average 24.78
Price 24.61
Weekly Stochastic Crossing 24.40
Daily Stochastic Crossing 24.31
Parabolic System 23.91
Lower Bollinger Band 23.89
Sector and Industry
Description Name Rank
Sector Financials 4
Industry Asset Management & Custody Banks 21
Daily Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
High 28.50
High Date 05/01/2023
Low 23.93
Low Date 05/24/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.37
High Date 02/02/2023
Low 23.93
Low Date 05/24/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 47.27
Support 38.05
Low 20.24
Low Date 10/13/2022
High 34.37
High Date 02/02/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 38.27
High Date 11/02/2021
Low 20.24
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.91
Low Date 04/16/2020
High 38.27
High Date 11/02/2021
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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