Franklin Resources Inc Stock Forecast
Evaluation of Franklin Resources Inc stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Franklin Resources Inc stock price fell by -0.98% on the last day (Tuesday, 23rd Apr 2024) from $25.58 to $25.33. During the last trading day the stock fluctuated 1.23% from a day low at $25.29 to a day high of $25.60. The price has fallen in 6 of the last 10 days and is down by -8.02% for this period. Volume has increased on the last day by 615 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $120.45 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.96% during the next 3 months and, with a 90% probability hold a price between $23.64 and $26.74 at the end of this 3-month period.
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BEN Signals & Forecast
There are mixed signals in the stock today. The Franklin Resources Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $26.89. On a fall, the stock will find some support from the short-term average at $25.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.51%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Franklin Resources Inc stock
Franklin Resources Inc finds support from accumulated volume at $25.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.310 between high and low, or 1.23%. For the last week, the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Franklin Resources Inc to open at $25.40, and during the day (based on 14 day Average True Range), to move between $24.74 and $25.92, which gives a possible trading interval of +/-$0.587 (+/-2.32%) up or down from last closing price. If Franklin Resources Inc takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.02 (1.22%) than the resistance at $27.51 (8.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Franklin Resources Inc will release earnings BMO on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.570. We will update the financials statements for Franklin Resources Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.59% in the first trading day after earnings release.
Is Franklin Resources Inc stock A Buy?
Franklin Resources Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.427 Sell Candidate Downgraded
Predicted Opening Price for Franklin Resources Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $25.40 ( 0.290%) | $25.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.71 | 1.51 % | |
| R2 | 25.59 | 1.05 % | ||
| R1 | 25.52 | 0.757 % | ||
| Current price: | 25.33 | |||
| Support | S1 | 25.28 | -0.178 % | |
| S2 | 25.21 | -0.467 % | ||
| S3 | 25.09 | -0.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.11 | 10.98 % | |
| R2 | 27.85 | 9.95 % | ||
| R1 | 27.51 | 8.61 % | ||
| Current price | 25.33 | |||
| Support | S1 | 25.02 | -1.22% | |
| S2 | 24.94 | -1.54% | ||
| S3 | 24.71 | -2.45% |
BEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.310 | 1.22% |
| 2 | Jan 02, 2024 | Jan 02, 2024 | Jan 12, 2024 | $0.310 | 1.09% |
| 3 | Sep 06, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.300 | 1.32% |
| 4 | Jun 08, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.300 | 1.05% |
| 5 | Feb 07, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.300 | 1.12% |
FAQ
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