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June 10, 2023
XP rallied to $21.2, hitting its highest point in 7 months; it later lost 65 cents and closed at $20.55.
XP's state is reflected by market data as United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600. United States CFTC Gold speculative net positions came out at 175,600. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 8,800.
Trend-following investors would be interested to note that investors are seeking long positions as XP Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, according to technical analysis of XP's Relative Strength Index (RSI), the market is currently overbought. Asset volatility analysis shows that XP's upper Bollinger Band® is at $21.11, suggesting that a downward move may follow. A study of XP's chart reveals various key levels to watch: XP is approaching key support, around 30 cents away from $20.25. 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.
Notwithstanding XP's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Meanwhile, mixed performances were seen by other financials stocks as HDFC Bank Limited was up 1.5%. Royal Bank Of Canada was up 0.53%. Wells Fargo & Company lost 0.57% yesterday and closed at $42.13.
The stock has been trending positively for about 2 months. 2 months ago, the Brazilian investment management company fell to a low of $10.65 but has since recovered 92.68%.
