XP levels up 5.43% in yesterday's session; traders eye opening bell in a day time

A quick look at yesterday: after closing Thursday at $18.04, XP closed at $19 yesterday after climbing to $19.29 and dropping back down.

XP's uptick comes amid good United States macroeconomic data released during the day — United States Non Farm Payrolls beat analyst expectations of 180,000 and the previous reading of 294,000 with new data of 339,000.

XP's uptick comes amid disappointing United States macroeconomic data released during the session – Average Hourly Earnings in United States fell short of market expectations (0.4%) with a reading of 0.3%, continuing the decline from the previous figure of 0.4%. Data from United States concerning Unemployment Rate was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 3.4 to 3.7 this month.

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. Momentum evaluation shows that the Relative Strength Index indicates XP is in an overbought condition. XP is currently trading around the $18.91 Fibonacci resistance level. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $19.69, thereby suggesting that XP is becoming overvalued. Visual analysis of XP's chart shows that although XP is appreciating today after rising as high as $19.29, price action is now slowing and consolidating around 38 cents below the $19.4 resistance level.

Notwithstanding XP's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

This rally in XP's share price coincided with other financials stocks as American Express gained 3.59%, as it traded at $168.56. Berkshire Hathaway was up 1.97%. Royal Bank Of Canada traded at $92.43 after closing yesterday's trading day at $90.38 (up 2.27%).

The stock has been trending positively for about 2 months. XP hit a significant low of $10.65 around 2 months ago, but has since recovered 69.39%.