Wendy's (WEN) had a bullish run from summer 2016 to summer 2017, from lows around 9 to highs around 16.60 between retreating. Then, it started to trade in a range between roughly 15 and 16.Wendy's (WEN) Daily Chart (click to enlarge)Consolidation Range:- The daily chart shows price in the 15-16 range.- A break below 15 would open up the next support area around 15. If price indeed falls below 13.15, we should probably anticipate support even higher, around 13.50 for example. - A push that closes the week above 16.00 might revive the prevaining uptrend and push price back to the high on the year around 16.66 with risk of extending higher.Bullish Bias:- In the long-term, at least since 2009, WEN has been bullish.- Although the strength of the uptrend varied since 2009, the direction was pretty consistent. - Now that is long-term upside bias. That doesn't mean price can't dip lower in the short-term in a more significant period of consolidation. - Also note that the RSI in the daily chart is still above 40, which reflects maintenance of the prevailing bullish momentum.