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After Yesterday's Rally of 2.09% Shares Could Potentially Pullback

By Amy Schwartz

Wendy's/Arby's Group (NASDAQ:WEN) traded in a range yesterday that spanned from a low of $14.00 to a high of $14.28. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $14.01 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Wendy's/Arby's Group share prices have been bracketed by a low of $8.43 and a high of $14.46 and are now at $14.22, 69% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 1.32% higher over the past week, respectively.

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 31.3%. We continue to monitor WEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders wendy's/arby's group

Ticker(s): WEN