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Watch for Franklin Res Inc to Potentially Rebound After Falling 1.34% Yesterday

By David Diaz

Franklin Res Inc (NYSE:BEN) traded in a range yesterday that spanned from a low of $38.82 to a high of $39.66. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $39.29 on volume of 977,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Franklin Res Inc has traded in a range of $30.56 to $47.65 and is now at $38.95, 27% 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 Res Inc on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $42.57. Since that call, shares of Franklin Res Inc have fallen 7.4%. 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