Franklin Resources Inc (BEN) has made a great run to $120 this year before giving most of the gain last month. Since then, it has made a decent recovery and now sits slightly above $98. What is the next direction for BEN?
Considering that there is a major resistance level at $100, I would predict that BEN is headed lower below $90. Having said this, I would consider the current stock market direction.
For example, S&P 500 is currently near its 50% retracement level (1,121). If this level gets broken, then BEN should continue to rally well above $100. To mitigate this potential risk upward, it would be wise to SHORT BEN near $100 with STOP order slightly above it, not going higher than $103. I will revisit BEN later to see where it will be trading in couple of weeks later.
Making The Most Of Unwanted Gadgets - It’s a safe guess to say that most of us have an unwanted gadget or two lying around the house. This could be a present we never needed or used, an iPod th...
2 months ago