Where’s The Beef?

I am dating myself here, talking about the former famous Wendys commercial that came out back in 1984. Perhaps the message was onto something regarding the current PRICE action in the stock. It now trades in near bear market mode, 17% off most recent 52 week highs, and began this week on a sour note off more than 2%. Peers in the niche space have been acting somewhat soft too, with DPZ WING and MCD down 13, 11 and 9% off their respective annual peaks. On the flip side leaders have been separating themselves from the pack, with CMG flirting with a bull flag pivot that coincided with the very round 1500 number. It broke out on 2/1, and reversed on 2/2 and has been floating in that area ever since. SHAK did the same thing, breaking above a flag pivot of 117, then back below it, but is now back above the pivot. CAKE is approaching the 50 number, and TXRH blasted above the 80 number that held it back on a WEEKLY CLOSING basis dating back to last November, is now confronted by the very round 90 figure. Getting back to WEN, it has not been invited to the party, and there is most likely a reason why.

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