Don’t Resist the Baconator, Buy Wendy’s

• Posted by Greg Harmon
• on September 7th, 2016

Wendy’s has always been there in the background, watching the burger wars between McDonald’s and Burger King. Tossing in some chili here and backed potatoes there. Perceived higher quality if not for real, I do not know. Bu the Baconator is not an in the background type of product. This is an in your face right to the heart of America burger. They even advertise that it has no vegetables to get in the way! ‘Merica!!!

And it seems to be working. The stock had been wallowing as it carves out a bottom after a third pullback. But with deeper observation this pullback is making a second higher low after a higher high. And the price Wednesday moved back over the 200 day SMA and up to resistance. Is it ready for more. Yes it is!

The momentum indicators are bullish and rising. Getting more bullish. And the Bollinger Bands® are opening to the upside as the price pushed over short term resistance. A pushover the 10.40 level would suggest another move to a higher high above the 11.30 reached in May. Can you resist the Baconator now?

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