Yum! Brand (YUM) Stock Price Analysis: Will the Pirce Reach $133?
Yum! Brand (YUM) Stock Price Analysis: Will the Pirce Reach $133?
Yum! Brand (NYSE: YUM) is a quick-service restaurant company. The firm deals in the development and operation of approximately 1500 franchisees under it. It runs its operation through various brand names such as KFC, Taco Bell, Pizza Hut, and Habit Burger Grill. The YUM stock price has melted by 19.34% ever since it created its 2023 annual high. While falling, the stock price gave the breakdown of various support levels and patterns. The fall in Yum! Brands, Inc.’s stock price halted at the $115.53 support zone where buyers were ready to defend that level. Since then, the stock price has shown a significant growth of 9.33% in its share price. The YUM stock price in the last trading session reclaimed the swing high of $125.38 with the support of high buying pressure. Currently, the stock price is trading at $126.34 with an intraday gain of 1.67%. In addition, it traded with a volume of 1.755 million in the last trading session and has a market capitalization of 35.402 Billion USD. The YUM stock has recently reclaimed the 50-day EMA and currently is retesting the 100-day EMA. So, there are now two probabilities that can happen in the future. In the first probability, if the next candle closes above the 100-EMA, the price might reach its next resistance at $132.57. On the other hand, the price may form a bearish candle like a shooting star and bearish engulfing after facing rejection from the 100-day. It will fail to sustain above the $132.57 level and can fall to its swing low of $115.53. The relative strength index is at 64.17, which is marked in bullish territory. The RSI is sloping in the upward direction and it shows the price is currently facing buying pressure. There is left in the upward direction which indicates the ongoing buying pressure may continue in the upcoming trading sessions. According to the RSI, the continuation of the price rise is possible. However, the EMA is being dicey and shows the price is currently in an indecisive state. The YUM prediction is bearish as long as it is trading below the $132.57 level. Any up-move that fails to reclaim this level may face rejection from here and can test the lower levels. The difference between the current market price of YUM stock and $132.57 resistance is 5.20%. The price is showing potential to reach $132.57 resistance. The breakout of this level may trigger the trend reversal in the Yum! Brand stock price. After which the price may retest its 52-week high of $143.20. On the lower levels, the recent swing low of $115.53 will play an important role. The breakdown of this may trigger the continuation of the ongoing downtrend. After which the price may reach its next support at $108.59. The YUM stock price prediction is bearish as long as it is sustained below the $132.57. The stock price is showing potential to reach its resistance at $132.57. However, this level will play an important level in the further rise in price. Resistance Levels: $132.57 and $143.20 Support Levels $115.53 and $108.59 The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.
Publish Date : 2023-11-09 17:48:00
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