Restaurant Brands International fails to breakdown key support at $74.55 and bounces 46 cents

• Despite dipping below $74.55 as support, market bulls are still in control
• Restaurant Brands International's upper Bollinger Band® is at $75.69 which indicates a further downward move may follow.

After dipping as low as $74.51, the fast food restaurant company is recovering ground lost since the previous session close ($75.27); currently trading at $75.

The stock has been trending positively for about 2 months. Having set a significant high of $76.38 4 days ago, the US fast food multinational is trading 1.45% lower.

Technical analysis shows that after reaching the $74.55 support zone, Restaurant Brands International Inc. bounced and climbed 46 cents above it. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Restaurant Brands International's upper Bollinger Band® is at $75.69 which indicates a further downward move may follow.

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

Fundamental indicators – United States ISM Non-Manufacturing PMI (May) released yesterday at 14:00 UTC with a figure of 50.3, while the previous figure was 51.9.

Restaurant Brands International's stock value drop coincides with McDonald's is trading around $282.64 (down 2%). Starbucks is down 2.04% from the beginning of the session and now trades around $97.89.

Positive performances can be seen by looking at other consumer discretionary stocks as Alibaba is up 2.16%.

Upcoming fundamentals: United States Crude Oil Inventories projected to decline to 1.15 million while previous data was 4.49 million; data will be released tomorrow at 14:30 UTC.