Wendy’s is adding some Southern twang to its menu.
The fast-food giant announced Thursday that it would begin offering a series of barbecue pulled pork items, including BBQ Pulled Pork French Fries, a BBQ Pulled Pork Cheeseburger and a BBQ Pulled Pork Sandwich. The new menu items will be available starting in November for a limited time for just under $5.
This isn’t the first specialty item from Wendy’s to hit the market; the company also brought back its widely popular signature pretzel bun over the summer.
(Read: Wendy's goes BBQ pork crazy)
Wendy’s new initiatives haven’t moved the needle on the stock, though. Shares are down 6 percent on the year and have underperformed both the broader market and competitors.
“The fast-food industry has been introducing a number of new innovations, which I find fascinating and exciting,” said Gina Sanchez, founder of Chantico Global.
However, according to Sanchez, Wendy’s is not out of the woods just yet. Sanchez noted that rising food prices and margin issues have plagued the company. “It’s still wait and see for Wendy’s at this point,” said Sanchez.
“The stock really needs a catalyst of some sort. It’s been trading sideways since bottoming in April,” said BTIG’s chief technical strategist, Katie Stockton.
Stockton noted that the sideways move suggests that Wendy’s is under accumulation, where investors are buying dips and keeping support underneath the stock, a positive trend, according to her expertise.
“From a technical standpoint, the catalyst that the stock needs is a break above the 200-day moving average [around $8.60 per share], which has been a resistance level for Wendy’s for quite some time,” Stockton added. “A breakout above that would be a long-term bullish reversal on the chart and would be very promising for the future.”
Check out the video above for the full discussion on Wendy's with Sanchez and Stockton.