Long Position on XP @ $47.00 on 7/29/2020 (Momentum)

XP Inc. (XP) operates technology-driven financial services platform that provides financial products and services in Brazil.

It provides broker-dealer services for high-net worth customers and institutional clients; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth clients.

The company also offers XP Educação, an online financial education portal that offers seminars, classes, and learning tools to help teach individuals a range of topics, such as basics of investing, techniques, and investment strategies, as well as insurance brokerage services.

In addition, it operates XP Platform, an open product platform that provides clients to access investment products in the market, including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds, and others.

XP Inc. reported 1st Quarter March 2020 earnings of $0.17 per share on revenue of $391.8 million. The consensus earnings estimate was $0.11 per share.

Please note, this stock reports earnings on August 11th. Following its earnings report, the company is said to hold an hourlong webcast to discuss its earnings. This stock should break out of its "bullish wedge" and push share prices higher.

Entry point: $47.00

52-week trade range: $15.50 - $50.63

Stop/Loss: $44.65

Target Price: $51.75

Updates

8/12/2020 9:32:07 AM

XP closed at $52.30

Position closed on 8/12/2020 at price of $52.30 with a 11.28% gain in 14 days.

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