XP is showing signs of life, up to $13.42 (0.83%)

While XP was in the midst of a 4 day downtrend— in which it lost a total of 6.09%— Today may indicate a change of direction; after closing yesterday at $13.31, XP closed at $13.42 today after climbing to $13.71 and dropping back down.

XP is currently trading at $13.42 following the release of FOMC Press Conference data from the United States.

Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of -1.1 million with a reading of -1.28 million.

Meanwhile, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25. United States ISM Non-Manufacturing PMI (Apr) released today at 14:00 UTC with a figure of 51.9, while the previous figure was 51.2.

'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. XP made an initial breakout above its 10 day Simple Moving Average at $13.67, a potential indicator of a newly emerging bullish phase. In contrast, XP reversed direction at $13.64 resistance zone and retreated back 22 cents below it.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts XP to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the the Brazilian investment management company is expected to pick up significant bullish sentiment in the coming days.

XP went up today, yet these financials stocks did not follow — JP Morgan Chase went down to $135.98, losing 2.12% after it closed at $138.92 today. S&P Global stumbles 1.7% today to close at $356.

Also worthy of note, United States Initial Jobless Claims projected to come out at 240,000 — worse than previous data of 230,000; data will be released tomorrow at 12:30 UTC.

The stock has been trending positively for about a month. The Brazilian wealth manager has recovered 25% since descending to a significant low of $10.65 around a month ago.