I Feel Like Some Wendy’s
My fast food of choice would have to be Wendy’s (WEN). After McDonald’s (MCD) same store sales rose the other day, it got me thinking about the fast food’s of the world.
No matter how much money people have they will always eat fast food. It is basically encoded into our DNA. This entails some sort of “recession proofness.”
That being said, I don’t really like McDonald’s and Wendy’s resurgence for freshness seems appealing to me. Although McDonald’s still has a stronger international presences, I still feel quality is better than quantity.
Throw on top that a possible merger with Arby’s, which would instantly increase their market share, there seems like a lot of good news surrounding this stock.
Just like always, I like that fact that this stock is coming off its 52 week low, rather than 52 week high. Price targets for this stock easily aims into the 40’s. More perks could be thrown in on the buyout, and this stock really has nowhere else to go but up.
By look at the chart, we see Wendy’s currently floating between the 200 day moving average (red) and 50 day moving average (orange). What I want to see is a breaking of that red line. A buy should be prompted then, with hopes of breaking PAST $30 and reaching $36 if not $40.
What say you?
image source – kailos
Filed Under: Stock Recommendations
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