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May 03, 2023- $72.97 is Restaurant Brands International's highest rate in 3 years.
- Upper Bollinger Band® currently at $72.21
Restaurant Brands International has posted further gains as part of a 19 day trend that has already seen the stock gain $4.61. Yesterday's session pointed in the same direction — an influx of buyers helped the US fast food multinational to end the session higher around $72.14, while establishing a $69.93 to $72.97 session range yesterday.
The stock has been trending positively for about a month. The fast food restaurant company reached a significant high of $72.14 around a day ago but has lost 2.13% since then.
Although Restaurant Brands International Inc. is appreciating today after rising as high as $72.97, price action is now slowing and consolidating around $1.29 below the $73.43 resistance level. Despite posting gains on yesterday, Restaurant Brands International slid below its 3 day Simple Moving Average at $70.12 during the last session — an early indicator that a negative trend could be emerging. Restaurant Brands International's upper Bollinger Band® is at $72.21, this is a slight indication of a slowdown.
Technical analysis suggests there could be an imminent reversal for Restaurant Brands International.
Fundamental indicators – United States JOLTs Job Openings (Mar) came out at 9.59 million, while a consensus of analysts was expecting 9.78 million.
A look at other consumer discretionary stocks also showed bullish price action as Amazon was up 1.55%.
While Restaurant Brands International was bullish yesterday, the following consumer discretionary stocks underperformed: Alibaba lost 3.12% yesterday and closed at $81.53. Walt Disney drops 1.58% yesterday to close at $102.21.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released today at 14:30 UTC.
