Restaurant Brands International Inc (QSR) owns three quick service restaurant brands: Burger King, Tim Hortons and Popeyes. The stock topped out on June 2nd, 2021 at $70.74 a share. Since that pivot top, the stock has been steadily declining and currently trades around $64.25 a share. Traders should note that Restaurant Brands International Inc (QSR) stock is now trading below its 50 and 100-day moving averages. This puts the stock in a weak technical position on the daily chart and often indicates lower prices ahead.
The next major support level for Restaurant Brands International Inc (QSR) stock will be around the $59.00 area. This level is where the stock was defended and broke out of a long sideways range in February 2021. Often, when stock backtest prior breakout levels that will be defended by the institutional crowd.
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