Price action backs away from resistance at $75.64 despite bullish mood
Upper Bollinger Band® currently at $76.2

Restaurant Brands International has posted further gains as part of a 3 day trend that has already seen the stock gain $1.5. Friday continued on the same track for Restaurant Brands International — after closing at $74.48 on Thursday, Restaurant Brands International maintained a strong bullish bias that helped the stock close higher at $75.16 Friday. However, market bears ensured the the US fast food multinational topped out at $75.53 and that by the end of the session, the market had marked out a distinct $74.47 to $75.53 range.

The stock has been trending positively for about 2 months. The fast food restaurant company has fallen back around 2.49% over the past 10 days, from a notable high of $76.38.

Chart analysis indicates although Restaurant Brands International Inc. is appreciating today after rising as high as $75.53, price action is now slowing and consolidating around 48 cents below the $75.64 resistance level. Technical analysis trend indicators suggest that Restaurant Brands International made an initial breakout above its 5 day Simple Moving Average at $74.82, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Restaurant Brands International's upper Bollinger Band® is at $76.2, this is a slight indication of a slowdown.

Notwithstanding Restaurant Brands International's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

A look at other consumer discretionary stocks also showed bullish price action as Tesla was up 4.06%. Toyota was up 1.21%.

While Restaurant Brands International was bullish Friday, the following consumer discretionary stocks underperformed: Home Depot went down to $297.35, losing 1.24% after it closed at $301.09 Friday.

Upcoming fundamentals: United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.