this is speculative and is not meant to be financial advice, but a hypothetical idea which other versed investors can agree or disagree with what is presented in this picture. Seems like a pretty simple quick 5% rip. One could maybe maximize earnings through a put play. This could also be a complete fakeout, so waiting for confirmation is crucial.
Inverse Cup and Handle forming for Wendy's on the daily chart. Expecting to meet resistance at the handle before moving lower towards the long term trend line.
Looking for price to break ATH, but more likely, it will bounce off and pull back. Overall, very bullish uptrend here. Might be able to catch a small short here and ride back up again.
In this activity (The Technical Analysis) there are a lot schools and theories, the methodology that I follow and use is called by Americans:
Price Action with Chart Pattern analysis plus Candlesticks but without indicators (large name for a simple thing)
It's a raw way to do the things but work and this means that if you are a user of this technique I do not...
* Trade Criteria *
Date First Found- August 23, 2017
Pattern/Why- Key support breakdown short
Entry Target Criteria- Break of $14.93
Exit Target Criteria- $13.57
Stop Loss Criteria- N/A
Please check back for Trade updates. (Note: Trade update is little delayed here.)
$After the first run up WEN found Support at $15ish and made a nice base on the Daily Chart. Looking now for continuation with a push of Volume through $15.80 to set new highs.
Target 17.50ish.
After 2 months of decline Wendy's seems to be on the rise since July 1st. It also seems to follow that pattern: 2 months down follow by 2 months on the rise. On the next month will it follow its uptrend pattern?
The Wendy's Company is the parent company of subsidiary holding company Wendy's Restaurants, LLC (Wendy's Restaurants). Wendy's Restaurants is the parent company of Wendy's International, LLC (Wendy's), which is the owner and franchisor of the Wendy's restaurant system in the United States. Wendy's is a restaurant company specializing in the hamburger sandwich segment. Wendy's is engaged in the business of operating, developing and franchising a system of restaurants serving food. The Company operated approximately 6,080 Wendy's restaurants in operation in North America, as of January 1, 2017. Of these restaurants, 330 were operated by the Company and 5,768 by a total of 376 franchisees, as of January 1, 2017. In addition, as of January 1, 2017, there were 439 franchised Wendy's restaurants in operation in 29 countries and territories other than North America. Wendy's is also a partner in a restaurant real estate joint venture with a subsidiary of Restaurant Brands International Inc.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
WEN
