Franklin Resources Inc Forecast and Stock Analysis
Technical BEN stock analysis for March 22, 2019.
|Shorts||8.21% ( 2019-02-28 )|
Franklin Resources Inc fell by -3.25% in the last day from $33.18 to $32.10 The price has risen in 6 of the last 10 days and is up by 2.46% over the past 2 weeks. Volume has increased in the last day by 0.21 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 2.82 million shares bought and sold for approximately $90.44 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the BEN stock was $32.10. This is 3.25% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.86% from a day low at $31.73 to a day high of $32.95.
30 day high of the BEN stock price was $34.15 and low was $30.88.
90 day high was $34.15 and low was $27.34.
52 week high for the Franklin Resources Inc - $38.46 and low - $27.34.
Franklin Resources Inc lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.24% during the next 3 months and, with 90% probability hold a price between $35.16 and $38.40 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Monday March 18, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Franklin Resources Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $33.06. On a fall, the stock will find some support from the long-term average at approximately $31.98. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $30.33 and $29.61.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Franklin Resources Inc finds support just below today's level at $30.33. If this is broken, then the next support from accumulated volume will be at $29.61 and $29.09.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.23 (3.86%) between high and low. For the last week, the stock has had a daily average volatility of 2.34%.
Our recommended stoploss: $30.55 (-4.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 4 days ago.)
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Franklin Resources Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.