By Mill Chart
Last update: Sep 18, 2023
We've identified XP INC - CLASS A (NASDAQ:XP) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:XP for further developments.
ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.
Overall XP gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, XP is only an average performer.
For an up to date full technical analysis you can check the technical report of XP
Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:XP currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.
XP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 25.73, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.
XP INC - CLASS A
NASDAQ:XP (9/21/2023, 9:30:05 AM)
Based on good technical signals, XP INC - CLASS A is potentially setting up for a breakout.
Brazil’s Finance Minister Fernando Haddad called on Congress to pass laws that will help the economy sustain its momentum after gross domestic product expanded more than expected in the second quarter, local newspaper O Globo reported.
Other than Nvidia, here are three promising must-own Nasdaq stocks to buy over the remainder of 2023 and into 2024.
XP (XP) stock gapped down 3.8% in Monday mid-afternoon trading as the Brazilian investment bank announced the termination of its shareholders pact executed between XP Control,...