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Motorcycle Manufacturers Industry Stocks Technical Analysis - BEN

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- 3/15/2024 -
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Franklin Resources (BEN) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageBroken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Franklin Resources (BEN). During the week, the BEN dropped -1.15 points, or -4.10%, and closed at 26.90 on Friday, March 15, 2024. It was the worst weekly loss since November 10, 2023. Weekly volume was 6% 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 22.46 and resistance is at 30.89. 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 Rising Channel chart pattern. The uptrend support line (27.11) 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 medium-term trend.

Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend 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 February 13, 2024 at 26.07 and reached 28.61 on March 12, 2024. BEN gained -2.54 points, or -9.74%, in 28 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (27.44) 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 short-term trend.

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. 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.39
Williams' Percentage Range (W%R) 90.30
Strong Oversold
Lane's Stochastic (%D-Slow) 43.26
Greed/Fear Indicator (GFI) 35.12
Moving Average Converg./Diverg. (MACD) 0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.71
Williams' Percentage Range (W%R) 42.30
Lane's Stochastic (%D-Slow) 36.27
Greed/Fear Indicator (GFI) 46.15
Moving Average Converg./Diverg. (MACD) 0.38
Trading Signals
Description Value Chart
Yearly Trendline Resistance 30.89
Quarterly Trendline Resistance 29.20
Weekly Trendline Resistance 28.78
Parabolic System 28.56
Upper Bollinger Band 28.37
50 Day Moving Average 27.52
Weekly Trendline Support 27.44
20 Day Moving Average 27.43
Daily Stochastic Crossing 27.20
Quarterly Trendline Support 27.11
Weekly Stochastic Crossing 27.00
Price 26.90
Lower Bollinger Band 26.58
Yearly Trendline Support 22.46
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Asset Management & Custody Banks 41
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 28.61
High Date 03/12/2024
Low 26.61
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 28.78
Support 27.44
Low 26.07
Low Date 02/13/2024
High 28.61
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.32
High Date 12/27/2023
Low 26.07
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 29.20
Support 27.11
Low 21.88
Low Date 10/31/2023
High 30.32
High Date 12/27/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 30.89
Support 22.46
High 38.27
High Date 11/02/2021
Low 20.24
Low Date 10/13/2022
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.