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- 1 QSR stock showed a vertical rally and persisted to outperform on the charts.
- 2 Bulls are looking strong and continue to accumulate, making new highs.
Restaurant Brand International Inc. stock (QSR) price maintained the gains over the top and showed an uptrend on the charts. Moreover, the charts indicate a massive rise from the past months and trading beyond the sellers vision.
QSR stock is trading above the key moving averages and in uncharted territory, where the downside is capped to $50, but the upside has broader targets toward $100. Furthermore, the technical parameters suggest that buyers have strong muscles and persist in accumulation, making higher sequences.
Furthermore, QSR stock is trading in the overbought zone, where buyers have a strong edge and sellers have lost their grips from the past months. The price grows inside the rising channel and takes support on its 20-day EMA multiple times.
Restaurant Brands International, Inc. is a holding company that engages in the operation of quick-service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast-food hamburger restaurants.
The Popeyes segment handles the chicken category of the quick service segment of the restaurant industry. The company was founded on August 25, 2014, and is headquartered in Toronto, Canada.
At press time, QSR stock was traded at $77.78 with an intraday gain of 0.67% showing bullishness in the overnight session. Moreover, the trading volume increased by 1.25% to 865.845K, and the market cap is $35.161 Billion.
Analysts maintained a buy rating and a strong growth outlook for the upcoming months.
Daily Charts Shows Vertical Rally
On the daily charts, QSR stock price rode the gains and showed a vertical rebound from the start of 2023. The stock surged by over 30% in the last three months and stayed over the top.
As per the Fib extension, QSR stock faces resistances in the form of $85 and $100. On the other hand, immediate support is near $70 and $64. The price is trading above the upper bollinger band and maintaining bullishness from the past trading sessions.
Short Term Charts Show Buyer Persist in Dominating
On the 4-hour charts, QSR stock price persist in riding the rally and trading on the top. Moreover, the stock is surging toward a three-digit round level of $100 for the upcoming months.
The RSI curve stayed over the overbought region and formed a positive crossover indicating bullishness on the charts.
Similarly, the MACD indicator noted a bullish crossover and formed green bars on the histogram, which suggests a positive outlook for the following sessions.
Conclusion
Restaurant Brands International stock price persisted in riding the uptrend and maintained the gains on the top. Moreover, the price action showed buyers’ presence and dominance over the charts.
Technical Levels:
Support Levels: $65
Resistance Levels:$90
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
