The Brazilian investment management company trades at $13.82 after dropping by 9.91% ($1.52), its largest single-day drop since October 2022.
United States ISM Manufacturing PMI (Dec) is next today at 15:00 UTC.
Meanwhile, United States Manufacturing PMI came out at 46.2, while a consensus of analysts was expecting 46.2.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. XP is currently flirting with an active Fibonacci support level around $14. On the other hand, note that XP's lower Bollinger Band® is at $13.41, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. XP could begin to recover as it approaches significant support, now 35 cents away from $13.47. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for XP.
XP was not the only decliner in the financials sector; The Charles Schwab went down to $81.94, losing 1.59% after it closed at $83.26 yesterday.
On the other hand, positive performances could be seen by looking at other financials stocks as HSBC Holdings was up 1.51%. Wells Fargo & Company was up 1.21%.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with 2.23 million. It previously stood at 718,000; data will be released tomorrow at 16:00 UTC.
Furthermore, United States ADP Nonfarm Employment Change (Dec) is scheduled for tomorrow at 13:15 UTC. United States JOLTs Job Openings (Nov) scheduled to come out today at 15:00 UTC. United States ISM Manufacturing PMI (Dec) will be released today at 15:00 UTC.
Pointing downwards for around a month. XP hit a significant low of $13.82 around a day ago, but has since recovered 11%.