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High Growth Fintech Name Forming Bullish Flag

by | Mar 10, 2024

XP (XP) shares are nearing a break above a long bull flag that has formed since the start of the year and wrapped around the 55 and 200 day MA’s in a general zone near 25. A breakout above monthly value was attempted Friday and closed right at resistance of 25.25. A follow through higher should see a test of 27 from here with the weekly chart quite bullish longer term forming a cup and handle that likely would target 30+ for the financial name. XP still has 10k May $27 buy writes in open interest so potentially a good target short term to see that level.

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