As this happened, UBS downgraded its XP Inc [XP] rating to a Neutral from a a Buy in a research note published on July 11, 2024; the price target was decreased to $21 from $30. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in late April from “a Buy” to “a Neutral”. Morgan Stanley also remained covering XP and has decreased its forecast on April 23, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. JP Morgan revised its rating on December 05, 2023. It rated XP as “an Overweight” which previously was an “a Neutral”.
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Price Performance Review of XP
On Tuesday, XP Inc [NASDAQ:XP] saw its stock fall -2.50% to $17.56. Over the last five days, the stock has lost -0.62%. XP Inc shares have fallen nearly -32.64% since the year began. Nevertheless, the stocks have fallen -17.98% over the past one year. While a 52-week high of $27.02 was reached on 01/24/24, a 52-week low of $15.24 was recorded on 08/05/24. SMA at 50 days reached $18.45, while 200 days put it at $21.09.
Levels Of Support And Resistance For XP Stock
The 24-hour chart illustrates a support level at 17.35, which if violated will result in even more drops to 17.15. On the upside, there is a resistance level at 17.89. A further resistance level may holdings at 18.22. The Relative Strength Index (RSI) on the 14-day chart is 43.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.06%. Stochastics %K at 46.75% indicates the stock is a holding.
How much short interest is there in XP Inc?
A steep rise in short interest was recorded in XP Inc stocks on 2024-09-30, growing by 5.33 million shares to a total of 15.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 10.57 million shares. There was a rise of 33.52%, which implies that there is a positive sentiment for the stock.
