On Monday, Franklin Resources cleared a key performance benchmark, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 83, an increase from 80 the day before.
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This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they launch their biggest price moves.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a base and break out.
The company posted negative growth for both the top and bottom lines last quarter. The company is expected to release its next quarterly numbers on or around Jul. 25.
The company earns the No. 28 rank among its peers in the Finance-Investment Management industry group. Acadian Asset Management, Sprott and WisdomTree are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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