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April 21, 2023- $69.87 is Restaurant Brands International's highest rate in 1 year.
- Price action oscillating around key resistance at $69.58
Restaurant Brands International has posted further gains as part of an 11 day trend that has already seen the stock gain $3.05. Heading in the same direction for now — after ending yesterday at $69.04, Restaurant Brands International is currently trading at $69.87.
The stock has been trending positively for about a month. The fast food restaurant company has appreciated 23.88% over the past six months.
Visual analysis of Restaurant Brands International's chart shows that Restaurant Brands International Inc. price action is currently oscillating around the $69.58 resistance level with prices moving above and below several times during the session. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Restaurant Brands International price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Restaurant Brands International's case, the RSI has fallen below 30, indicating the asset is oversold. Asset volatility analysis shows that Restaurant Brands International's upper Bollinger Band® is at $70.31, 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.
Fundamental indicators – United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.
This rally in Restaurant Brands International's share price coincides with other consumer discretionary stocks as Amazon is up 3.11%. McDonald's is up 0.5%.
At the same time, Alibaba is down 1.97% from the beginning of the session and now trades around $88.95.
