The Greedy Trader Weekly Analysis
Sign In Feb 16, 2018
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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
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Summary:
Weekly :Weekly  MACD line has moved below its signal lineOversold sectorWilliams' Percentage Range is oversoldBroken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversoldBullish Homing Pigeon CandlestickThe Bollinger Bands are historically far apart
Move cursor over the icon to see details.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.14
Oversold
Williams' Percentage Range (W%R) 83.90
Oversold
Lane's Stochastic (%D-Slow) 16.78
Oversold
Greed/Fear Indicator (GFI) 16.67
Oversold
Moving Average Converg./Diverg. (MACD) -0.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.92
Williams' Percentage Range (W%R) 83.90
Oversold
Lane's Stochastic (%D-Slow) 59.07
Greed/Fear Indicator (GFI) 40.09
Moving Average Converg./Diverg. (MACD) 0.18 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 47.19
Yearly Trendline Resistance 45.80
50 Day Moving Average 43.39
20 Day Moving Average 42.88
Weekly Stochastic Crossing 41.97
Yearly Trendline Support 41.82
Parabolic System 41.08
Daily Stochastic Crossing 38.25
Price 38.22
Lower Bollinger Band 36.55
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Asset Management 51
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.90
High Date 01/26/2018
Low 37.01
Low Date 02/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.90
High Date 01/26/2018
Low 37.01
Low Date 02/06/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.96
High Date 01/24/2018
Low 37.01
Low Date 02/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 47.65
High Date 07/26/2017
Low 37.01
Low Date 02/06/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 45.80
Support 41.82
Low 30.56
Low Date 06/27/2016
High 47.65
High Date 07/26/2017
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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