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After Yesterday's Rally of 1.07% Shares Could Potentially Pullback

By David Diaz

Franklin Res Inc (NYSE:BEN) traded in a range yesterday that spanned from a low of $25.27 to a high of $25.95. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $25.68 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Franklin Res Inc has traded in a range of $24.73 to $35.82 and is now at $25.56, 3% above that low. The 200-day and 50-day moving averages have moved 0.39% lower and 0.52% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Franklin Res Inc on December 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $26.34. Since that call, shares of Franklin Res Inc have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders franklin res inc

Ticker(s): BEN