Jim Cramer told Real Money readers there are still other bull markets out there including restaurants, where the last men standing are likely to be Wendy's (WEN) , McDonald's (MCD) and Chipotle Mexican Grill (CMG) .
We haven't looked at Wendy's since April when we wrote that, "Aggressive traders could go long WEN on a dip back to around $18, risking a close below $16." Traders got a dip in early May to buy.
Let's check out the latest charts of Wendy's stock, which Cramer has been infatuated with for a long time.
In the daily bar chart of WEN, below, we can see that the shares are just now making new 52-week highs. Prices are trading above the bottoming 50-day moving average line and the slightly rising 200-day moving average line.
The On-Balance-Volume (OBV) line is close to making a new high for the move up to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator recently turned up to a new outright buy signal.