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Bullish Moving Average Cross by Franklin Resources (BEN)

By Nick Russo

Franklin Resources (NYSE:BEN) shares have crossed bullishly above their 10-day moving average of $35.60 on a volume of 436K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Franklin Resources has traded in a range of $31.00 to $52.65 and is now at $35.80, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Franklin Resources on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $37.54. Since that call, shares of Franklin Resources have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses franklin resources

Ticker(s): BEN