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|It was the negative week for the Franklin Resources (BEN). During the week, the BEN dropped -2.66 points, or -6.51%, and closed at 38.22 on Friday, February 09, 2018. Weekly volume was 114% above average. |
BEN is a member of Financial Sector. Financial is the second most oversold 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 Pennant chart pattern. The uptrend support line (41.82) 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 January 24, 2018 at 45.96 and reached 37.01 on February 6, 2018. BEN lost 8.95 points, or 19.47%, in 1 weeks. The price is now at the 13.52% retracement level.
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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 January 26, 2018 at 45.90 and reached 37.01 on February 6, 2018. BEN lost 8.89 points, or 19.37%, in 11 days. The price is now at the 13.61% retracement level.
Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The distance between the Bollinger Bands (27.84%) is close to one year high (15.01%). It is 267.67% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
Candlestick pattern: [See BEN candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.