Closing Bell Technical Review | Restaurant Brands International maintains neutral outlook despite shedding 1.57% yesterday

• 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. Yesterday's session continued down the same path: during yesterday's session, Restaurant Brands International toiled and struggled for upward momentum before closing at $60.92. By the close, the the US fast food multinational suffered a 97 cents or 1.57% loss.

Pointing downwards for around a month. The US fast food multinational has fallen back around 9.62% from the significant high of $68.48 set a month ago.

Technical analysis trend indicators suggest that 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. Momentum evaluation shows that 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.

With market volatility ebbing, the current technical outlook indicates Restaurant Brands International will remain range-bound for the immediate future.

Restaurant Brands International was not the only decliner in the consumer discretionary sector; Toyota lost 1.78% yesterday and closed at $133.48. McDonald's falls 1.25% yesterday to close at $270.57. Walt Disney goes down 1.16% yesterday to close at $94.29.