Technical indicators signal a Rising Wedge forming. Verify the setup on the chart.
Reversal pattern. Price likely to break downwards.
Gradual reversal from bearish to bullish.
Bullish continuation if preceding move was up.
Indecision. Widening then narrowing range.
Market participants tracking Franklin Resources should note the latest formation. The stock is trading at $30.75, down 1.44% on the day. The primary technical feature is a Diamond formation. Volume is average (0.34x avg) with moderate trend strength (13.4). A potential breakout level is identified at $32.44, targeting $40.29 with support near $28.51 (R:R 2.0).
What is your outlook on BEN?