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Franklin Resources Bearish Moving Average Crossover Alert (BEN)

By James Quinn

Franklin Resources (NYSE:BEN) crossed under its 10-day moving average of $43.15 on a volume of 239K 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.

In the past 52 weeks, shares of Franklin Resources have traded between a low of $30.56 and a high of $52.65 and are now at $42.59, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Franklin Resources on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.97. Since that recommendation, shares of Franklin Resources have risen 17.4%. 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