Wendy's $WEN has been in consolidation since it broke to a new high on the year around $18.60 back in August. Price has retreated back to $17, which is a key support. WEN Daily Chart (click to enlarge) Critical Support:- The $17 mark is critical support because it involves several factors that make it strong, but also implies very apparent weakness if price clears below $17.- The 200-day simple moving average (SMA) and a rising trendline is around $17. Meanwhile, the RSI is displaying maintenance of bullish momentum but holding above 40. - These are all signs that WEN is hanging onto the bullish mode. - A break above $17.50 would push WEN above the October consolidation on top of $17. A break above the falling trendline since September would also open up a bullish continuation scenario.