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Shares of Wendy's/Arby's Group Has Risen Above Previous 52-Week High

By David Diaz

Shares of Wendy's/Arby's Group (NASDAQ:WEN) traded at a new 52-week high today of $16.66. This new high was reached on below average trading volume as 382,000 shares traded hands, while the average 30-day volume is approximately 2.8 million shares.

Wendy's/Arby's Group, Inc. is a holding company. Through its subsidiaries, the Company owns, operates, and franchises fast-food restaurants in the United States.

Over the past year, Wendy's/Arby's Group has traded in a range of $8.43 to $16.66 and is now at $16.63, 97% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.2%.

Wendy's/Arby's Group (NASDAQ:WEN) is currently priced 14.0% above its average consensus analyst price target of $14.29. The stock should discover initial support at its 50-day moving average (MA) of $10.51 and subsequent support at its 200-day MA of $9.92.

SmarTrend recommended that subscribers consider buying shares of Wendy's/Arby's Group on September 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.61. Since that recommendation, shares of Wendy's/Arby's Group have risen 55.1%. We continue to monitor WEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows wendy's/arby's group

Ticker(s): WEN