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|It was a third positive week after 4 consecutive negative weeks for the Franklin Resources (BEN). During the week, the BEN gained 1.19 points, or 2.74%, and closed at 44.67 on Friday, December 08, 2017. BEN was trading at average weekly trading volume. |
BEN is a member of Financial Sector. Financial 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 uptrend had started on June 27, 2016 at 30.56 and reached 47.65 on July 26, 2017. BEN gained -17.09 points, or -55.92%, in 56 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (45.22) 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 long-term trend.
Medium-term trend: [See BEN medium-term trend chart]
A medium-term downtrend had started on July 26, 2017 at 47.65 and reached 40.22 on November 15, 2017. BEN lost 7.43 points, or 15.59%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (39.98) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. BEN may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 4, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See BEN short-term trend chart]
A short-term uptrend had started on November 15, 2017 at 40.22 and reached 44.90 on December 6, 2017. BEN gained -4.68 points, or -11.64%, in 21 days. Price is near the trend high.
Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is above its signal line since November 21, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.