Yesterday at a glance: in yesterday’s bearish session, XP shed around 2.74% in quick fashion, found support around the $18.33 level and finally closed at $18.47. In contrast, the day’s events followed Friday’s session in which the stock closed at $19.
XP Inc. made an initial break below its 21 day Simple Moving Average at $18.42, a possible indication of a forthcoming negative trend. XP is currently flirting with an active Fibonacci support level around $18.64. In contrast, XP could begin to recover as it approaches significant support, now 5 cents away from $18.42. Dipping below could be an indication that further losses are ahead.
In the short term, XP is expected to maintain its recent downtrend and continue spiralling lower.
XP was not the only decliner in the financials sector; HSBC Holdings closed at $27.58 (down 2.06%).
On the other hand, positive performances could be seen by looking at other financials stocks as BlackRock was up 3.07%. Visa Inc. traded at $200.1 after closing yesterday’s trading day at $196.98 (up 1.58%).
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million, having previously been at -3.12 million. The figure will be published tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook will be released today at 17:00 UTC.
Having set a significant high of $35.75 19 days ago, XP is trading 12.63% lower.