A quick look at Friday: the Brazilian investment management company has recovered almost all of its session losses after dipping down to $13.28 Friday.
Analysis of XP's recent price action suggests XP Inc. could begin to recover as it approaches significant support, now 14 cents away from $13.31. Dipping below could be an indication that further losses are ahead. Fibonacci-minded traders witnessed a key Fib level of $13.29 holding firm – an indicator of highly concentrated demand around this level.
XP was not the only decliner in the financials sector; The Blackstone Group Inc. went down to $89.45, losing 2.71% after it closed at $91.94 Friday. BlackRock went down 2.22%, closed at $696.38.
On the other hand, positive performances could be seen by looking at other financials stocks as HDFC Bank Limited added 1.5% to its value, and traded at $70.89.
The stock has been trending positively for about 29 days. XP hit a significant low of $10.65 around a month ago, but has since recovered 27.23%.