A quick look at yesterday: after a mostly steady day, XP lost 4.28% deep into the session, closing at $17.
Core Durable Goods Orders data from United States will be released today at 12:30 UTC with analysts expecting a decline to 0.2%. Potentially significant price fluctuations in XP are expected to follow.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 2.59 million, beating projections of 1 million and showing improvement over the preceding figure of -1.73 million.
Meanwhile, United States New Home Sales (Sep) came out at 603,000, while a consensus of analysts was expecting 585,000. United States 5-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.192, while the previous figure was 4.228.
XP Inc. could begin to recover as it approaches significant support, now 36 cents away from $16.64. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, XP peaked above its 10 day Simple Moving Average around $17.84 — typically an early indicator of a new bullish trend beginning to emerge.
Technical analysis shows that XP (currently on a downtrend) might reverse course and start going up in the short term.
On the other hand, positive performances could be seen by looking at other financials stocks as Visa Inc. traded at $203.33 after closing yesterday's trading day at $194.38 (up 4.6%). Mastercard traded at $319.51 after closing yesterday's trading day at $311.41 (up 2.6%). JP Morgan Chase traded at $124.11 after closing yesterday's trading day at $122.7 (up 1.15%).
Looking ahead, ongoing depreciation may be prolonged as United States Pending Home Sales projected to come out at -5% — worse than previous data of -2%; data will be released tomorrow at 14:00 UTC. United States Core Durable Goods Orders expected to decline to 0.2% while its preceding data was 0.3%, data will be available today at 12:30 UTC.
In addition, United States GDP is projected to outperform its last figure with 2.4. It previously stood at -0.6; data will be released today at 12:30 UTC.
Having set a significant high of $35.75 7 days ago, XP is trading 5.34% lower.