The Greedy Trader Weekly Analysis
Sign In May 13, 2022
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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 oversoldLane's Stochastic bullish divergence
Daily :Price is near the Fibonacci 23.6% retracement level
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It was a first positive week for the Franklin Resources (BEN). During the week, the BEN gained 0.42 points, or 1.71%, and closed at 25.01 on Friday, May 6, 2022. Weekly volume was -62% below average.

Long-term trend: [See BEN long-term trend chart]
A long-term uptrend had started on April 16, 2020 at 14.91 and reached 38.27 on November 2, 2021. BEN gained -23.36 points, or -156.67%, in 80 weeks. The price is now at the 56.76% retracement level.

Medium-term trend: [See BEN medium-term trend chart]
A medium-term downtrend had started on November 2, 2021 at 38.27 and reached 24.45 on May 2, 2022. BEN lost 13.82 points, or 36.11%, in 25 weeks. Price is near the trend low.

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. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 January 14, 2022. 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 4, 2022 at 26.91 and reached 24.50 on May 6, 2022. BEN lost 2.41 points, or 8.96%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 May 5, 2022. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.99
Williams' Percentage Range (W%R) 78.70
Lane's Stochastic (%D-Slow) 40.06
Greed/Fear Indicator (GFI) 35.77
Moving Average Converg./Diverg. (MACD) -0.57
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.57
Oversold
Williams' Percentage Range (W%R) 95.00
Strong Oversold
Lane's Stochastic (%D-Slow) 14.24
Oversold Bullish
Greed/Fear Indicator (GFI) 19.82
Oversold
Moving Average Converg./Diverg. (MACD) -1.07 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 27.30
50 Day Moving Average 27.14
Parabolic System 26.84
20 Day Moving Average 25.92
Daily Stochastic Crossing 25.49
Weekly Stochastic Crossing 25.09
Price 25.01
Lower Bollinger Band 24.84
Sector and Industry
Description Name Rank
Sector Financials 3
Industry Asset Management & Custody Banks 14
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 26.91
High Date 05/04/2022
Low 24.50
Low Date 05/06/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 27.27
High Date 04/21/2022
Low 24.45
Low Date 05/02/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29.10
High Date 03/30/2022
Low 24.45
Low Date 05/02/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 38.27
High Date 11/02/2021
Low 24.45
Low Date 05/02/2022
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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