Wendy's Co: Bouncing back to 10.12 or re-testing 8.65? (Weekly)
After completing its Double Top's objective, which is hitting 8.65, Wendy's Company seems to be aiming to its blue trend, with 10.12 as its monthly objective, should the trend be bullish.
Cutting through 8.98 will lead the equity back to re-test its 9 months support level at 8.65. Breaching 8.65 will lead it back to 8.22, where it would find support.
An eventual opening above 9.32 will suggest a bullish trend with 9.52 as an aim, 9.75 as any eventual rally's primary objective, ahead of its monthly long objective around 10.12.
The equity's weekly Pivot Point is around 9.176. If the equity opens above that level would suggest a weekly uptrend, otherwise it would suggest a bearish trend. Wendy's Company's weekly support levels are around 9.033 and 8.83. Its weekly resistance levels are 9.37 and 9.516.
Cutting through 8.98 will lead the equity back to re-test its 9 months support level at 8.65. Breaching 8.65 will lead it back to 8.22, where it would find support.
An eventual opening above 9.32 will suggest a bullish trend with 9.52 as an aim, 9.75 as any eventual rally's primary objective, ahead of its monthly long objective around 10.12.
The equity's weekly Pivot Point is around 9.176. If the equity opens above that level would suggest a weekly uptrend, otherwise it would suggest a bearish trend. Wendy's Company's weekly support levels are around 9.033 and 8.83. Its weekly resistance levels are 9.37 and 9.516.
