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Eli
Jan 3, 2017 6:07 PM

BEN - Follow Call buying to $45 in 4 months time Long

Franklin Resources, Inc.NYSE

Description

Sharp money has positioned themselves in BEN calls since mid November and have recently added with January 2017 and January 2018 calls, targeting 50% retrace of the 2015 high to 2016 low at $45. $41.50 is roughly the next resistance level, with $39 a decent stop loss level.

BEN weekly chart is in a bull flag, fighting the 100 period moving average above. A break of this MA should trigger buying that will propel the stock towards target.
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