WEN Trade on Sep 10, 2019 10:14 from Cklamb: Tradervue User Stock Trades.

WEN
Intraday Fundamentals
• 4:48 PM EDT, 09/09/2019 (MT Newswires) -- Wendy's Company (WEN) shares fell after-hours after it said adjusted EPS in 2019 will fall instead of its previous guidance of growth because of the expected expense of rolling out its breakfast menu next year across the US.
• The company expects adjusted EPS to fall 3.5% to 6.5% because of an upfront investment to get the expansion going compared with its previous guidance of growth of 3.5% to 7%.
• The company, which plans to spend $20 million to expand its breakfast offering, has been testing the breakfast menu in over 300 locations.
• Shares initially fell 8.7% in after-hours trading but have since narrowed to a 1% decline.
• The company plans to hire 20,000 workers as part of the expansion.
Technicals
ADV 2.63 RVOL 1.17 Beta .66 ATR .51 Short 7% Inst Own 81.6%
Daily

Hourly

Intraday

Trading Strategy
• Look for a flush to 20.20 or 20 in the opening minutes for and opening support scalp, target 20.60, expect this to be a quick trade.
• An opening resistance scalp at 21, if it wicks there and rejects firmly, play as a scalp and target 20.40 with 21.20 as the stop
• Expect this to tighten its range into the midday session, look to see if it gives early signs of direction or trend and trade on the side of VWAP
• Use vwap as a support or resistance trade to attempt to get in with the trend
• Look for a long or a short around 19.70 if it starts to trade under 20
• Look of a gap fill with closes above 21
Reading the Tape
I watch the tape since the price started to consolidate under the 20 level. This area did not seem strong or weak. I saw it step down and started to see what seemed to be stabilization just above.80 with only a couple quick runs underneath there. IT did turn strong as it came back into .80 when I took the trade when .75 held for the fourth time that I had watched it.

Trade Management

Trade Review
• This was modified off the am game plan. What I felt was a intraday support play of the PM low.
• The chart and the level lead me to believe that it would hold and move away
• I held for the price to start to move away and had defined the risk and the target.
• I was big enough in the trade to allow me to work around a core if the target would have hi
• My fundamental bias was wrong
• Technical set up was good for a support play.
Trade Grade
Aspect Score Poss. Notes
Preparation 7 10 I was prepared..i had a bias that probably was not as well thought out as I need to.
Hard Work 9 10 I spent some time waiting for this to set up with a reasonable plan to earn at least a 1 for 3 and thought I found the right spot on the tape
Patience 8 10 Yes..

Plan 8 10 Yes
Discipline 8 10 Yes
Contribution NA 10

Replay 0 10