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Wendy's/Arby's Group Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Thu, 01/31/2013 - 15:17
By Adrienne Chilton

Shares of Wendy's/Arby's Group (NASDAQ:WEN) traded at a new 52-week high today of $5.19. So far today approximately 1 million shares have been exchanged, as compared to an average 30-day volume of 3 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.

In the past 52 weeks, shares of Wendy's/Arby's Group have traded between a low of $4.35 and a high of $5.19 and are now at $5.15, which is 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

There is potential upside of 2.5% for shares of Wendy's/Arby's Group based on a current price of $5.15 and an average consensus analyst price target of $5.28. The stock should discover initial support at its 50-day moving average (MA) of $4.80 and subsequent support at its 200-day MA of $4.58.

By Adrienne Chilton
achilton@fnno.com

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