BEN – Franklin Resources, Inc.

Last Updated May 30, 2019

New ticker based upon request so starting off with the monthly chart to establish a general overview, feel and the big picture for this stock. What we have here is IMHO an irregular flat Cylce-2 wave progressing with Primary C now underway, while Primary B topped in 2014. Why? Because the advance off the low made in 2009 counts best as only three waves up (yellow a,b,c) which means it is corrective: B-waves are always only made up off three smaller waves. A break and close below the green uptrend line will start to solidify this thesis. It is then logical to assume price will seek out the yellow uptrend line for next support.

The only alternative I have is that the whole 2009->2014 advance was a leading diagonal 1st wave as the price pattern does have a diagonal look to it (white lines), than means wave-II is about complete and wave-III to ideally around $100 is now underway. BUT, price should not go below the 2018 low (green trend-line) and should now start to move higher instead of lower. A break above the yellow major-b wave high at $46 will certainly help this case. Thus IF one should be inclined to long this stock then the stop loss levels are well defined using the trend-line and December 2018 low.