The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 50.0% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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Franklin Resources (BEN) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week after 5 consecutive negative weeks for the Franklin Resources (BEN). During the week, the BEN gained 0.36 points, or 1.54%, and closed at 23.74 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was 39% 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 22.70 and resistance is at 30.41. 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 Symmetric Triangle chart pattern. The uptrend support line (29.67) 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 medium-term trend.

Weekly Technical Indicators: [See BEN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 28, 2024. 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 May 1, 2024 at 22.73 and reached 24.21 on May 9, 2024. BEN gained -1.48 points, or -6.51%, in 8 days. The price is now at the 31.76% retracement level.

Daily Technical Indicators: [See BEN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

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

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.07
Williams' Percentage Range (W%R) 54.70
Lane's Stochastic (%D-Slow) 40.81
Greed/Fear Indicator (GFI) 39.07
Moving Average Converg./Diverg. (MACD) -0.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.60
Williams' Percentage Range (W%R) 81.40
Oversold
Lane's Stochastic (%D-Slow) 15.08
Oversold
Greed/Fear Indicator (GFI) 25.14
Moving Average Converg./Diverg. (MACD) 0.06
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 27.20
Upper Bollinger Band 26.24
50 Day Moving Average 26.10
20 Day Moving Average 24.22
Price 23.74
Weekly Stochastic Crossing 23.41
Daily Stochastic Crossing 23.39
Parabolic System 22.74
Yearly Trendline Support 22.70
Lower Bollinger Band 22.49
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Asset Management & Custody Banks 53
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22.73
Low Date 05/01/2024
High 24.21
High Date 05/09/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 28.61
High Date 03/12/2024
Low 22.73
Low Date 05/01/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.32
High Date 12/27/2023
Low 22.73
Low Date 05/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 27.20
Support 29.67
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 30.41
Support 22.70
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.