XP Inc tries to emerge out of “NoGo” trend

XP Inc tries to emerge out of “NoGo” trend


January 2022


Alex Cole

XP Inc is a Brazilian investment management company.  As finance as a sector continues to outperform, we can look to the below chart for an opportunity.

After being embroiled in a "NoGo" trend for some time, price bottomed as GoNoGo Oscillator made a higher low, showing bullish divergence.  The Oscillator then started to flirt with breaking into positive territory and as it finds support at that level the GoNoGo trend has been able to move out of the "NoGo" colors first painting a few amber "Go Fish" bars before painting aqua "Go" bars.  We can also see that price is now trying to consolidate at levels that have been both support and resistance.  This is also significant.