After Yesterday's Rally of 3.95% Shares Could Potentially Pullback
Wendy's/Arby's Group (NASDAQ:WEN) traded in a range yesterday that spanned from a low of $10.32 to a high of $10.83. Yesterday, the shares gained 4.0%, which took the trading range above the 3-day high of $10.59 on volume of 2.7 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, shares of Wendy's/Arby's Group have traded between a low of $8.43 and a high of $11.71 and are now at $10.81, which is 28% above that low price. 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%.
SmarTrend is tracking the current trend status for Wendy's/Arby's Group and will alert subscribers who have WEN in their portfolio or watchlist when shares have changed trend direction.
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