Itaúsa shares, historically known for being the holding company of Itaú Unibanco, have come to reflect the business of other companies listed on the Stock Exchange, such as XP Inc, Espadrilles, Dexco, and RCC. Itaúsa’s shares have performed well this year, with an increase of 9.9% in the accumulated 2023, and an increase of over 15.6% in 12 months. The company registered a recurring profit of R$ 2.67 billion in the first quarter of 2022, announcing the distribution of interest on shares and a buyback program. According to Enrico Cozzolino, Head of Research at Levante, Itaúsa shows a consolidation of prices in the short and medium term, with support around R$8.00 and resistance in the region of R$9.50. For Alexandre Milen, analyst and CEO of Harami, the stock market is on the rise in the short and medium term, while in the long term Itaúsa’s share has an indefinite trend.
In terms of technical analysis, it is important to closely follow the evolution of the local scenario and analyze the narrative related to inflation control and economic data to understand how the market might react, especially in relation to the breaking of resistance levels and the continuation of a higher move. Factors such as the local scenario, inflation control, and economic data play a crucial role in understanding how the market might react. In periods of consolidation, it is essential to observe if the market will once again respect resistance levels, indicating a stagnation in the price movement. On the other hand, if these levels are broken, favorable moves are possible, driving the market in a more optimistic way.
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Historically known for being the holding company of Itaú Unibanco (ITUB4), Itaúsa shares (ITSA4) came to reflect, in recent years, not only the business of the largest Brazilian private bank, but also of other companies listed on the Stock Exchange, such as XP Inc (XPBR31), Espadrilles (ALPA4), Dexco (DXCO3) and RCC (CCRO3).
This year, the performance of Itaúsa shares points to gains in June, following the increase of the Stock Market, of 5.37%, but also in the accumulated of 2023, with an increase of 9.9% and in 12 months, of more than 15.6% This Friday (9), its shares closed with an appreciation of 1.32%, trading at R$9.23.
At the end of the 1st quarter, the company registered a recurring profit of R$ 2.67 billion, a drop of 0.6% compared to the same period in 2022, in addition to announcing the distribution of interest on shares and a buyback program. One of the ambitions of the company is return to the historical level of dividend payments.
In March, we had already outlined the Itaúsa’s perspective, based on technical analysis. Since then, over the past 3 months, the stock is up 13.5%. Check now what to expect from the company’s shares, according to notes from chartists consulted by the infomoney.
Technical analysis: ITSA4
According to Enrico Cozzolino, Head of Research at Levante, in the long term, Itaúsa continues an upward trend, while in the short and medium term it shows a consolidation of prices, with support around R$8.00 and resistance in the region of R$9.50.
“In the short term, there was a recovery movement in prices, which led Itaúsa to approach the resistance zone, together with a significant increase in financial volume. This movement was also observed in other actions in the same sector, which registered an increase in financial volume and a recovery in prices, reaching important resistance levels ”, he assesses.
Itaúsa chart: daily chart
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According to him, it is extremely important to closely follow the evolution of the local scenario and analyze the narrative related to inflation control and economic data.
“These factors play a crucial role in understanding how the market might react, especially in relation to the breaking of resistance levels and the continuation of a higher move,” he added.
In periods of consolidation, Cozzolino reinforces, it is essential to observe if the market will once again respect resistance levels, “indicating a stagnation in the price movement.”
On the other hand, if these levels are broken, favorable moves are possible, driving the market in a more optimistic way.
Itaúsa chart: weekly chart
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For Levante, support for Itaúsa is in R$8.80 (1 and R$8.50 (2), while the resistors are in R$9.20 (1 and R$9.50 (two).
ITSA4: short, medium and long term
For Alexandre Milen, analyst and CEO of Harami, in the short term, the stock has an upward trend. This is due to the crossing of the moving averages, as well as the formation of an ascending triangle.
In this way, it evaluates, in case there is a break in the R$9.10, the asset can reach the price of R$10.50“due to the projection of the triangle and confirmed by the ADX indicator at 31, pointing upwards, reinforcing the bullish trend”.
Itaúsa Charter: short term
Regarding the medium term, Milen also understands that the stock market is on the rise, due to the crossing of the moving averages, “as well as the formation of an ascending triangle, where surpassing the break in R$9.10 can reach the price of R$10.50by the projection of the triangle.
Itaúsa chart: medium term
Finally, for the long term, Itaúsa’s share has an indefinite trend, in his evaluation. For him, it is necessary to wait for confirmation of the breakout of resistance, in R$9.10.
If the breakout is confirmed, Milen adds, the asset could reach the next resistance, in R$10.50.
Itaúsa chart: long term
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Consult the latest technical analysis of InfoMoney
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