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May 22, 2023
A quick look at Friday: after finishing Thursday at $16.43, the Brazilian investment management company went up by 5.11% Friday and remained at the $17.27 level.
XP Inc. made an initial breakout above its 200 day Simple Moving Average at $16.51, a potential indicator of a newly emerging bullish phase. Despite this, XP is 34 cents away from testing key resistance at $17.61. Peaking above this level could inspire market bulls and open the path to further gains. XP's upper Bollinger Band® is at $17.55, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems XP likely to continue pointing upward in the short term.
XP went up Friday, yet these financials stocks did not follow — Morgan Stanley lost 2.66% Friday and closed at $82.24. Mastercard went down 1.65%, closed at $392. Bank of America closed at $28.11 (down 1.26%).
Furthermore, the market is looking at United States New Home Sales (Apr) is scheduled for tomorrow at 14:00 UTC. United States Services PMI is expected tomorrow at 13:45 UTC. United States Building Permits will be released tomorrow at 12:00 UTC.
The stock has been trending positively for about a month. The Brazilian wealth manager is up 54.27% from the significant low of $10.65 it hit a month ago.
