After 2 years of trading at depressed prices, STNE has broken above its long time resistance lines:
Zooming in:
StoneCo has attempted to break above its 68-week EMA and 74-week EMA resistance lines multiple times since it fell below them, in July and August of 2021. Finally, in the week of November 13th, 2023, STNE managed to close the weekly trading session above both lines. The surge in price followed StoneCo’s quarterly earnings report, which was released on Friday, November 10, 2023, AMC.
The following week saw STNE’s prices compressed, however, all above the 74-week EMA ex-resistance line.
Then last week’s price action acted as a confirmation for the long-time resistance lines break:
