Wendy Stock Forecast
Wendy stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Wendy stock price gained 1.53% on the last trading day (Thursday, 2nd May 2024), rising from $19.62 to $19.92. During the last trading day the stock fluctuated 3.82% from a day low at $19.89 to a day high of $20.65. The price has risen in 5 of the last 10 days and is up by 4.84% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 6 million shares were bought and sold for approximately $125.96 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $20.20 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.01% during the next 3 months and, with a 90% probability hold a price between $19.40 and $21.21 at the end of this 3-month period.
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WEN Signals & Forecast
The Wendy stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $19.91 and $18.94. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -1.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Wendy stock
Wendy finds support from accumulated volume at $19.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.760 between high and low, or 3.82%. For the last week, the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: $19.25 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (WEN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Wendy to open at $20.15, and during the day (based on 14 day Average True Range), to move between $19.44 and $20.40, which gives a possible trading interval of +/-$0.483 (+/-2.42%) up or down from last closing price. If Wendy takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.96 (0.20%) than the support at $19.62 (1.51%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wendy stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wendy stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.171 Buy Candidate Upgraded
Predicted Opening Price for Wendy of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $20.15 ( 1.17%) | $19.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.91 | 4.99 % | |
| R2 | 20.62 | 3.53 % | ||
| R1 | 20.44 | 2.63 % | ||
| Current price: | 19.92 | |||
| Support | S1 | 19.86 | -0.286 % | |
| S2 | 19.68 | -1.19 % | ||
| S3 | 19.39 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.14 | 1.10 % | |
| R2 | 19.99 | 0.351 % | ||
| R1 | 19.96 | 0.201 % | ||
| Current price | 19.92 | |||
| Support | S1 | 19.62 | -1.51% | |
| S2 | 18.11 | -9.09% | ||
| S3 | 17.97 | -9.79% |
WEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.250 | 1.36% |
| 2 | Nov 02, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.250 | 1.25% |
| 3 | Aug 09, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 1.24% |
| 4 | May 10, 2023 | May 31, 2023 | Jun 15, 2023 | $0.250 | 1.13% |
| 5 | Jan 13, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.250 | 1.21% |
FAQ
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