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Franklin Resources Bearish Moving Average Crossover Alert (BEN)

By Nick Russo

Today, shares of Franklin Resources (NYSE:BEN) have crossed bearishly below their 10-day moving average of $36.28 on a volume of 528K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Franklin Resources share prices have moved between a 52-week high of $52.65 and a 52-week low of $30.56 and are now trading 18% above that low price at $36.08 per share. 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 subscribers consider buying shares of Franklin Resources on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.90. Since that recommendation, shares of Franklin Resources have risen 5.1%. We continue to monitor BEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses franklin resources

Ticker(s): BEN