The Frosty Bounce: Key Support Holds for a Sweet RecoveryWendy's CompanyNASDAQ:WENMrJackStrawThe Frosty Breakout: WEN Melts Its Downtrend 1. What We Are Seeing (The Setup) Wendy's (WEN) is staging a massive daily trend reversal. After finding a hard bottom near the $6.37 mark in late June, the stock aggressively pushed up to $8.44. We are currently seeing a strong green daily candle pushing right up against immediate structural resistance. The moving average ribbons are turning bullish, and volume expanded significantly during the initial bottoming impulse, showing institutional interest. 2. Why It Matters (The Significance) This is a textbook market structure shift. The chart notes that a clean daily close and one more Higher High (HH) above $8.84 formally violates the macro downtrend's lower-high sequence. If this happens, it officially flips the daily chart's market structure to a bullish Higher High / Higher Low trend for the first time in months. We are sitting right at the validation pivot point. 3. What to Expect (The Game Plan) The Bullish Path: Look for a breakout confirmation above $8.84. If the price clears this, the immediate upside targets are the psychological round number at $9.00 (Fib 1.272 extension), followed by the primary measured move target at $9.72 (Fib 1.618). The Retest & Support: If the price rejects immediate resistance, the critical level to defend on a pullback is $8.44 (the prior HH / breakout retest level). As long as buyers hold $8.44 or the SMA200 at $7.93, the structural bull thesis remains intact. A drop below the structural bull/bear line at $7.93 invalidates the immediate momentum.