Jun. 2 at 7:13 PM
🧭
$BEN · Daily · 06.02.26
Franklin Resources is coiling. A descending wedge tightening under the
$32.44 high — also the 52-week high. Lower highs pressing down, a rising floor pressing up. Something resolves soon.
The levels:
$30.63 /
$30.28 — the support shelf. Lose it and the wedge breaks down toward
$28.69.
$32.44 — the cap. Reclaim it and the path opens to
$34.77, then the mid-30s.
$31.39 now, pinned mid-range. Neutral until it picks a side.
The fundamentals say why it's undecided:
AUM back to
$1.74T. Record
$14.3B in alts inflows — the turnaround is real. But Western Asset still bleeds, and the Street cannot agree: targets run
$21 to
$37. Underperform to Buy on the same name. That disagreement IS the wedge.
A 4.2% yield pays you to wait for the resolution. Structure leans up — wedges break up more often than not — but I wait for the break, not the wish.
No position. Watching the rails.
Process over prediction. Risk-first, always.
NFA.
#wavervanir #volanx #quant #algorithmictrading #optionsflow
