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

Published on Mon, 02/11/2013 - 15:24
By Adrienne Chilton

Shares of Wendy's/Arby's Group (NASDAQ:WEN) traded today at $5.33, breaking its 52-week high. This new high was reached on above average trading volume as 12.8 million shares traded hands, while the average 30-day volume is approximately 2.9 million shares.

Wendy's/Arby's Group has overhead space with shares priced $5.21, or 1.3% below the average consensus analyst price target of $5.28. The stock should discover initial support at its 50-day moving average (MA) of $4.87 and subsequent support at its 200-day MA of $4.59.

In the past 52 weeks, Wendy's/Arby's Group share prices have been bracketed by a low of $4.35 and a high of $5.33 and are now at $5.21, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

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.

By Adrienne Chilton