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:
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.
No comments:
Post a Comment