Wendy's is Getting No Respect

With the broad market still very much indecisive and corrective amid a sharp tech unwind, it is interesting to see fast food player Wendy's consolidating rather well at eleven-year highs to little fanfare, if any. 

Wendy's is a name we have profiled before and one I am holding in my long-term portfolio, betting that its current $4 billion market cap has plenty of room to grow as the firm has improved its menu items and general customer experience. Furthermore, Wendy's has arguably the best social media Twitter account of any fast food or restaurant stock (@Wendys). 

Even if you disagree with some of the above points, it is hard to argue with how well the WEN daily chart, updated below, has been acting amid the broad market turbulence. Holding $17 going forward should indeed be rather bullish before earnings in early-May. And this is all happening as the dominant player, McDonalds, has been operating below its 200-day move average for most of the past month. 

Given the unwinding action in such titans as AMZN and TSLA, for example, it is likely highly instructive to continue to refine a list of relative standouts like WEN in order to better prepare for any rotations going forward. 

More in my usual Midday Video for Members.