- The CCI indicator has fallen below -100 – a bearish signal
- Lower Bollinger Band® at around $59.81
Restaurant Brands International has lost 10.08% over the last 15 days. Friday's session continued the recent downtrend: during Friday's session, Restaurant Brands International toiled and struggled for upward momentum before closing at $60.92. By the close, the the fast food restaurant company suffered a 97 cents or 1.57% loss.
Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Restaurant Brands International is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $59.81, a low enough level to, generally, suggest that Restaurant Brands International is trading below its fair value.
Overall, the technical outlook suggests Restaurant Brands International is likely to remain muted for the immediate future, with no clear-cut direction.
Restaurant Brands International was not the only decliner in the consumer discretionary sector; Toyota lost 1.78% Friday and closed at $133.48. McDonald's went down to $267.2, losing 1.25% after it closed at $270.57 Friday. Walt Disney decreases 1.16% Friday to close at $94.29.