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Franklin Resources (BEN) Approaches New Downside Target of $41.18

By Shiri Gupta

Shares of Franklin Resources (NYSE:BEN) opened today below their pivot of $42.29 and have already reached the first level of support at $41.61. Analysts will be watching for a cross of the next downside pivot targets of $41.18 and $40.07.

Franklin Resources (NYSE:BEN) has potential upside of 0.0% based on a current price of $0.00 and analysts' consensus price target of $39.27. The stock should run into initial resistance at its 50-day moving average (MA) of $38.32 and subsequent resistance at its 200-day MA of $38.57.

In the past 52 weeks, shares of Franklin Resources have traded between the current low of $0.00 and a high of $52.65 and are now at $0.00. Over the past week, 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 13.7%. We continue to monitor BEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts franklin resources

Ticker(s): BEN