BEN descending triangle, potential breakdown
This asset managment company was in strong uptrend since September 2013 from $45 and topped at $58.86.
That trend was broken with steep downside move. Stock found support at $50-51 area from one side and resistance zone at $54-55.
BEN was underperformer with
SPY just 2% off the highs. It means that if bounce scenario will come into play this range may resolve to downside. Recently, it have built Descending triangle.
Selling area is 52ish then $54
Target $51 then $50 and then mid 40ish area.
That trend was broken with steep downside move. Stock found support at $50-51 area from one side and resistance zone at $54-55.
BEN was underperformer with
SPY just 2% off the highs. It means that if bounce scenario will come into play this range may resolve to downside. Recently, it have built Descending triangle. Selling area is 52ish then $54
Target $51 then $50 and then mid 40ish area.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.