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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
Archive
- 12/1/2017
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Franklin Resources
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Summary:
Weekly :Overbought sectorBroken trend support lineLane's Stochastic bullish divergence
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second positive week after 4 consecutive negative weeks for the Franklin Resources (BEN). During the week, the BEN gained 2.27 points, or 5.51%, and closed at 43.48 on Friday, December 01, 2017. Weekly volume was 32% above average.

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 (45.02) 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 trend support level is at 40.06 and resistance is at 44.33. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly technical indicators are neutral. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since August 4, 2017. 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 uptrend had started on November 15, 2017 at 40.22 and reached 43.92 on November 30, 2017. BEN gained -3.70 points, or -9.20%, in 15 days. The price is now at the 11.89% retracement level.

Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access 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.

During the last week, the price has moved above 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 advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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) 75.05
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 81.10
Overbought
Greed/Fear Indicator (GFI) 80.88
Overbought
Moving Average Converg./Diverg. (MACD) -0.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.74
Williams' Percentage Range (W%R) 56.90
Lane's Stochastic (%D-Slow) 26.50
Bullish
Greed/Fear Indicator (GFI) 41.99
Moving Average Converg./Diverg. (MACD) 0.24 Bullish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 50.10
Yearly Trendline Support 45.02
Quarterly Trendline Resistance 44.33
Upper Bollinger Band 44.05
Daily Stochastic Crossing 43.55
Price 43.48
50 Day Moving Average 43.17
20 Day Moving Average 41.64
Parabolic System 41.61
Weekly Stochastic Crossing 41.46
Lower Bollinger Band 40.26
Quarterly Trendline Support 40.06
Monthly Trendline Resistance 39.50
Monthly Trendline Support 37.43
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Asset Management 114
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 40.22
Low Date 11/15/2017
High 43.92
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 40.22
Low Date 11/15/2017
High 43.92
High Date 11/30/2017
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 39.50
Support 37.43
High 45.40
High Date 10/20/2017
Low 40.22
Low Date 11/15/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 44.33
Support 40.06
High 47.65
High Date 07/26/2017
Low 40.22
Low Date 11/15/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 50.10
Support 45.02
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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