Muted session threatens to disturb XP's ongoing uptrend

While XP is on a 6 day uptrend Yesterday's session put the brakes on the ongoing uptrend — a quiet day for XP as it remained range-bound within a $13.62 – $14.27 range before closing at $13.87.

Uncertainty around XP is reflected by published market data as United States Core Retail Sales fell short of the -0.3% projections, with new data of -0.8%. Data from United States concerning Retail Sales was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of -0.2% to -1% this month. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as XP Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that XP's upper Bollinger Band® is at $13.88, suggesting that a downward move may follow. Technical analysis shows that XP is approaching key support, around 30 cents away from $13.57. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Overall, while XP has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Meanwhile, mixed performances were seen by other financials stocks as JP Morgan Chase added 7.55% to its value, and traded at $138.73. BlackRock gained 3.07%, as it traded at $691.33.

Having set a significant low of $10.65 23 days ago, the Brazilian investment management company is trading 30.42% higher.