BEN GARTLEY HARMONICHello everyone,
Ben may be close to a bottom in the form of a Bullish Gartley Harmonic Pattern. I've shared my entry levels, exit, and stop loss. Good luck!
0RT6 trade ideas
BEN attacking major resistance area, jumps over 30d MABEN (Franklin Resources) in early trading today has jumped over its 30 day SMA, for the first time since late March. A 3.5% rise in the stock also bring it to a major resistance zone between 23.30 and 23.85. Currently trading slightly below at 23.22, but with a lot of momentum, it is possible we'll see BEN consolidate at this level and gather strength to push through.
Above 23.85, the next major resistance band awaits between 24.40 and 24.86. With earnings reported in around 2 weeks, there could be the impetus needed to move into the higher 20s that have proved themselves to be a massive resistance for over 2 years. On the lower side, BEN is well supported in the area between 21 and 22.
Franklin Resources, Inc. Posts Weak Q2 ResultsFranklin Resources, Inc. (NYSE: NYSE:BEN ) unveils its second-quarter financial performance, showcasing resilience and strategic prowess amidst evolving market dynamics. With a nuanced approach to financial management and a focus on innovation, the company navigates challenges while charting a path toward sustained growth.
The reported net income of $124.2 million or $0.23 per diluted share for the quarter ended March 31, 2024, reflects a strategic pivot amidst shifting market landscapes. Comparatively, the figures for the previous quarter stood at $251.3 million or $0.50 per diluted share, illustrating the company's adaptability in the face of volatility.
Jenny Johnson, President and CEO of Franklin Resources, Inc., attributes the positive results to the company's commitment to deepening client relationships and diversifying its offerings across asset classes and geographies. Notably, the quarter witnessed long-term net inflows of $6.9 billion, propelled by robust performances in fixed income, multi-asset, and alternative assets.
The acquisition of Putnam Investments in January marked a strategic milestone for Franklin Resources, Inc., ( NYSE:BEN ) bolstering its investment capabilities and expanding its presence in vital sectors such as insurance and retirement. With Barron's ranking Putnam as the top fund family for one- and five-year performance, the acquisition underscores the company's commitment to delivering superior investment outcomes.
While celebrating these achievements, Franklin Resources, Inc. ( NYSE:BEN ) remains cognizant of the evolving regulatory landscape and the need for disciplined expense management. By leveraging its net cash and investment position to invest in growth and innovation, the company aims to stay ahead of client needs while delivering value to stakeholders.
In addition to reporting U.S. GAAP figures, Franklin Resources, Inc. ( NYSE:BEN ) provides supplemental non-GAAP financial measures, offering investors insights into the company's relative performance and financial health. These measures, including adjusted operating income and adjusted net income, reflect management's commitment to transparency and accountability.
As Franklin Resources, Inc. ( NYSE:BEN ) charts its course amidst a dynamic economic environment, the company's focus on innovation, client-centricity, and financial resilience positions it for sustained success.
Technical Outlook
Franklin Resources, Inc. ( NYSE:BEN ) stock is down 4.44% trading below the 200, 100, and 50-day Moving Average (MA) respectively with a weak Relative Strength Index (RSI) of 27.58 which is clearly on the verge of an oversold situation.
Unveiling the Resilience of Franklin Resources Inc. ($BEN)
Franklin Resources Inc. ( NYSE:BEN ) has kicked off fiscal year 2024 on a robust note, showcasing its resilience and adaptability in a dynamic market environment. The financial results for the first quarter ended December 31, 2023, surpassed expectations, with adjusted earnings per share of 65 cents, marking a stellar 28% year-over-year increase. Let's delve into the key highlights that make NYSE:BEN an intriguing stock to watch.
Earnings Beat and Growth:
One of the standout achievements for Franklin Resources ( NYSE:BEN ) in Q1 FY 2024 is its impressive earnings beat. The company's adjusted earnings per share not only exceeded the Zacks Consensus Estimate of 57 cents but also experienced substantial growth, surging 28% compared to the same period in the previous year. This growth is a testament to Franklin's effective management and ability to capitalize on market opportunities.
Assets under Management (AUM) Strength:
One of the critical indicators of a financial institution's performance is the management of assets, and Franklin Resources exhibited strength in this aspect. AUM for fixed income, multi-asset, equity, alternative, and cash management categories all displayed robust figures, either meeting or slightly exceeding analyst estimates. The total AUM stood at $1,455.5 billion, reinforcing the company's position as a trusted asset manager.
Cost Management and Margin Expansion:
While expenses increased by 1% year over year, the company effectively managed its cost structure, resulting in an operating margin of 10.4%, compared to 9.9% in the same quarter of the previous year. This margin expansion showcases Franklin Resources' commitment to efficient cost management, contributing to its overall financial health.
Net Flows and Shareholder Value:
Despite facing challenges, Franklin Resources ( NYSE:BEN ) managed to minimize net flows negativity, reporting $-0.3 billion, outperforming the three-analyst average estimate of $-1.71 billion. The company's ability to retain and attract assets, even in challenging market conditions, is a positive sign for shareholders.
Conclusion:
Franklin Resources Inc. ( NYSE:BEN ) has set a strong foundation for fiscal year 2024, demonstrating resilience, sound financial management, and the ability to navigate through market headwinds. The company's robust AUM, earnings growth, and effective cost management paint a positive outlook for investors.
Bounce Trade on $BEN- Pulled back to the to a fib level which is also a previous support.
- a bounce move can get to 31$ which is where it meets the upper resistance
LONG!Buy at retest area.Classic! Wyckoff
Price broke resistance and retest the resistance turns support area
BEN - Multiple W patterns within Larger WAn interesting chart showing W patterns.
This is a bullish pattern or kind of neutral in my eyes. Only bullish when the right arm is experienced.
W patterns everywhere!
FRANKLIN RESOURCES Stock Chart Fibonacci Analysis 041523Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 26.6/61.80%
BEN: remaining above its 200-periodsNotice how the stock remains above its 200-day, -week and -month simple moving averages, acting as major support.
Above 27.00 supports a bullish trend direction.
Increase long exposure for a break above 28.00.
The upside target is set at 31.00 (upper range of the Bollinger bands).
Stop-loss set at 25.00. Negate the trade for a break below this level.
Time horizon for the trade idea is over the next couple of weeks to months.
$BEN with a Bullish outlook following its earnings #Stocks The PEAD projected a bullish outlook for $BEN after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
BEN | Insider Buying | BounceFranklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Hyderabad, India.
$BEN with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $BEN after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 85.71%.
$BEN with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $BEN after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
Franklin Resources USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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BEN - Flag / Triangle Breakout Triangle Breakout for a Target of T1 & T2
T1 being Height of Triangle
T2 Being Height of Pole
BEN 🌦Spotted a running flat Elliott Correction wave on BEN. This could be a good weekly earnings play.
$BEN | Bull Flag: Watch For Upside Continuation$BEN broke out of a bull flag on the hourly timeframe. Watch for continuation to the upside.
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
FRANKLIN RESOURCES Chart Hey traders, FRANKLIN RESOURCES is in a bullish channel with large buy volume issued and a long legged doji. In the TIMEFRAME M1 we observed a hammer candle with an abnormal volume of purchase made, it goes to VWAP. There's a good chance she'll break it hard to get to the next high with a price breakout. We can go and test the top of the range and the breakout if the buyers are there but not enough strength to test the high channel.
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The FRANKLIN RESSOURCES Folder DailyHey investors, FRANKLIN RESSOURCES is in an uptrend with low paid buy volume and a hammer bull candle. Looking at the TIMEFRAME M1 we see a bullish continuation, it is very likely that the title goes in the direction of its last precedent higher. Then two resistance to pass (See TIMEFRAME H4) to recover the losses of before image session on TIMEFRAME 15M. Little buying power to achieve totality.
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