In addition to the hot casual dining plays we have been discussing, fast food player Wendy’s is clearing resistant which has been as stubborn as can be since the 2008 crash.
On the weekly chart, below, $5.80 is the key level for bulls to get a weekly close above today. Keep in mind, however, that earning are next week on Wednesday. I would wait until after the report before initiating or adding.
Note the weekly chart moving averages attempting a major bearish-to-bullish reversal after years of clearly downsloping.
Kudos to 12631 member @TaoofPatrick for being all over this trade.
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Anyone like the $6.00 may calls for $.10?
looks good but I’d stay away until after earnings coming up soon