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Restaurant Brands International Inc. (Friday’s close $86.94) rallied from $40.75 in February, 2016, to $88.36 in October, 2017 (A-B) and then settled in a wide horizontal trading range mostly between $69 and $86 (dashed lines). A move above the top of this range will signal a breakout toward higher targets.

Behaviour indicators including the 40-week Moving Average (40wMA) confirm the bullish potential. A minor correction may occur toward $81-82, but only a sustained decline below ±$78 would be negative.

A rise above $87-88 would signal Point & Figure targets of $99 and $109. The large trading range (dashed lines) supports potentially higher targets.

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. ( And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

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