Restaurant Brands International honing in $68 as near-term resistance to further upside

• Price action backs away from resistance at $68 despite bullish mood
• Bullish streak halted at key Fibonacci level of $67.75

Restaurant Brands International has posted further gains as part of a 7 day trend that has already seen the stock gain $1.12. Yesterday's session pointed in the same direction — Restaurant Brands International recovered from the previous trading session's losses and went up to $67.5 yesterday after it traded lower at $66.97.

The stock has been trending positively for about a month. The US fast food multinational has appreciated 26% over the past six months.

Although Restaurant Brands International Inc. is appreciating today after rising as high as $67.97, price action is now slowing and consolidating around 49 cents below the $68 resistance level. Restaurant Brands International's upper Bollinger Band® is at $69.16, this is a slight indication of a slowdown.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Restaurant Brands International is set for a reversal in the coming days.

Fundamental indicators – Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%.

While Restaurant Brands International was bullish yesterday, the following consumer discretionary stocks underperformed: Toyota went down 0.93%, closed at $137.23. Alibaba lost 1.68% yesterday and closed at $94.55. Walt Disney went down to $99.9, losing 0.93% after it closed at $100.84 yesterday.