maschera

WEN - 5.20% Potential Profit - Corridor Breakout

Short
NASDAQ:WEN   WENDYS COMPANY (THE)
Corridor breakout past a 4-month correction.

Price has been down-trending since the beginning of August and I am expecting the momentum to continue in the short-term. Wendy's is a great stock, however, we might be reaching new support before resuming the rally. This is why it is important to get out fast if we turn a profit.

Lack of resistance confirmation means that we are chasing the price. However, my Stop/Loss is tight to reflect that.

- Target Entry $20.65
- Target Stop Loss $21.04
- Target Exit $19.56

About me
- P/L September +33.74% | August: +232.32% | Historical Win Ratio 70.59% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
Comment: Keep in mind that I have a long setup with SHAK. This means that if I take SHAK, I might not take WEN, and vice-versa. There is a very small possibility that I will take both at the same time.

It all depends on how the market opens today.
Order cancelled: I went long SHAK instead.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out