Friday, December 4, 2015

Franklin Resources, Inc. (NYSE: BEN)

Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California.
Take a look at the 1-year chart of Franklin (NYSE: BEN) below with my added notations:
1-year chart of Franklin (NYSE: BEN)
BEN has hit the $42 mark (red) as resistance multiple times in the past month. In addition, the stock has been climbing a trend line of support (green) since mid-October. Eventually, the stock will have to break either the $42 resistance or the trendline support.

The Tale of the Tape: BEN is winding up between two key levels. A long trade could be made at the trendline support or on a break above $42. A break below trendline would be an opportunity to enter a short trade.

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