It's Time To Buy Wendy’s

Published 09/07/2016, 03:08 PM
Updated 05/14/2017, 06:45 AM

Wendy’s (NASDAQ:WEN) has always been there in the background, watching the burger wars between McDonald’s (NYSE:MCD) and Burger King.

The stock wallowed as it carved out a bottom after a third pullback. But with deeper observation, this pullback is making a second higher low after a higher high. And Wednesday's price moved back over the 200-day SMA and up to resistance. Is it ready for more. Yes it is.

The Wendy’s Co.

The momentum indicators are bullish and rising and getting more bullish. And the Bollinger Bands® are opening to the upside as the price has moved over short-term resistance. A push over the 10.40 level would suggest another move to a higher high above the 11.30 reached in May.

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