- Prices have climbed $1.29 away from the nearest support level at $66.57
- Bollinger analysis indicates upper Band® is at $67.73
While Restaurant Brands International is on a 5 day uptrend Yesterday's session put the brakes on the ongoing uptrend — although Restaurant Brands International increased from $67.75 to $68.33, the stock dropped back and is now priced at $67.86.
The US fast food multinational has gained 5.04% since its lowest print of $46.94 earlier this year.
Support/Resistance levels obtained from chart analysis indicate that Restaurant Brands International Inc. is climbing away and is now $1.29 from the $66.57 support line. With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Restaurant Brands International price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Restaurant Brands International's upper Bollinger Band® is at $67.73, suggesting that a downward move may follow.
Overall, while Restaurant Brands International has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.
Meanwhile, mixed performances were seen by other consumer discretionary stocks as Walt Disney was up 2%. McDonald's added 1.28% to its value, and traded at $273. Amazon gained 0.89%, as it traded at $97.18.
Upcoming fundamentals: as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published today at 13:30 UTC.