EM investor Franklin Templeton exhibiting a 8yr H&S top, neck has broken and is now retested, good low risk entry region here for target 12.50 low with a stop above the 35.82 high. Prospective RR at 8+
BEN has formed a H&S pattern on the monthly chart.
I believe BEN will drop down to its 2000-2009 trend line. Financials are being hit hard, and many have been calling for a recession or at least a slow down over the next couple of year.
The fall to the trend fits into the larger picture of global slowdown within the next few years.
Short from $34.03
Market Cap - $18.91B
Beta - 1.61
P/B - 1.63
P/E - 27.98
Employees - 9,448
AUM - $737.5B
- Shares of Franklin Resources have underperformed the industry over the past six months.
- Headquartered in San Mateo (CA) Franklin Resources is a global investment management company and most of its net income and revenue comes from investment advisory,...
For example this idea is for swing traders and is based in price action and the concept that support becomes resistance
look how the price broke the support line around 40.50 and how it tested the new resistance line
I think the idea is clear, I don't feel like paraphrasing
The (Red arrows) are my new assistants, they speak for me
The price target, I leave it...