Restaurant Brands International Inc

After a decisive support break with price falling below the 9/20 EMAs and testing the 50-SMA on expanding volume, the medium-term bullish posture from Stage 2 has been invalidated. A Support Failure pattern and sustained downside displacement warrant a bearish medium-term bias. Short-term timing is favorable for bearish execution, with direct participation in the breakdown, selling near the now-resistance zone around the 50-SMA. Remain bearish while price holds below the EMAs; invalidation occurs on a sustained reclaim of these moving averages.

• ↑Same-store sales +3.5% YTD, driven by Burger King and Tim Hortons
• ↑International system-wide sales grew double digits in China and India
• ↓Beef and other commodity cost inflation pressured franchisee margins