Back

Itaú Unibanco Holding S.A. (ITUB) Technical Analysis

January 29, 2026

ITUB Price Action and Technical Analysis (Exclusively Technical)

Overview

  • ITUB is currently trading near $8.88, after a strong rally that pushed prices from the mid-to-low $7s into the high $8s, with a fresh near-term push above consolidation levels.
  • The price is positioned above both the 50-day and 200-day moving averages, indicating a bullish trend in the intermediate and longer-timeframes.
  • Momentum indicators show a strong upmove, but with extended readings that warrant caution for a potential near-term pullback or digestion.

Price Action Analysis

  • Trend context

    • The pair has been trending higher over the past weeks to months, making higher highs and higher lows on the intermediate horizon. The recent move accelerated into new highs around $8.9.
    • The trend remains bullish as prices sit above major moving averages (see Technical Indicators section for levels).

  • Chart patterns and structures

    • Recent price action exhibits a momentum-driven advance with limited downside retracements, typical of a price-aggressive breakout within an uptrend.
    • No large reversal patterns are evident in the very near term, but the ascent into the $9.0 area creates a psychological resistance zone.

  • Support and resistance

    • Immediate near-term support: around $8.60–$8.50. This band aligns with minor prior reaction lows and serves as an active cushion on pullbacks.
    • Intermediate support: around $8.30.
    • Major near-term resistance: $9.00 to $9.20 region (round-number resistance and a previous consolidation zone).
    • Longer-term structural support due to uptrend and moving averages (see Technical Indicators) reinforces the bullish context.

  • Candlestick and volume observations

    • A cluster of bullish candles has accompanied the most recent advance, with higher intraday highs and substantial close strength.
    • Volume surged on the latest breakout days, signaling accumulation and a commitment by buyers to push through resistance.

  • Key takeaways from price action

    • The current price action is bullish but approaching a critical resistance barrier near $9.00. A clean breakout above $9.00 with strong volume would reinforce the uptrend and target higher levels.

Technical Indicators

Summary readings (latest values)

  • Current price: $8.88
  • Moving Averages (latest)
    • MA50: about $7.3
    • MA200: about $6.4
  • RSI (14): ~88.7
  • MACD: MACD line ~0.40, Signal ~0.20 (positive momentum, widening)

Technical Indicators Table

IndicatorLatest ValueInterpretationImplication
Price$8.88Above both MA50 and MA200Bullish trend with momentum
MA50~$7.3Price comfortably aboveIndicates ongoing near-term strength
MA200~$6.4Price well aboveIndicates long-term uptrend support
RSI (14)~88.7Overbought territoryRisk of short-term pullback or consolidation
MACDMACD ~0.40, Signal ~0.20Positive momentum, increasingSupports continuation, but watch for a potential pullback if momentum wanes

Notes on implications:

  • The combination of price above major moving averages and positive MACD signals confirms a bullish derivative of the current move.
  • The extremely elevated RSI suggests the move may soon undergo some digestion or a shallow retracement before potentially resuming higher.

Volume & Momentum Analysis

  • Volume dynamics show spikes concurrent with the latest leg higher, consistent with accumulation and participation behind the breakout.
  • The upmove’s persistence is supported by rising MACD and a robust price level above the MA baselines, reinforcing the probability of further upside on a break above the $9.00 resistance.
  • However, the RSI near 90 indicates risk of a pullback or consolidation if price fails to sustain the breakout with continued volume.

Key Buy/Sell Levels

Current price: $8.88

  • Buy Zone 1: around $8.60 – $8.60

    • Status: Touched recently (near-term support)
    • Distance from current price: already tested; no additional distance to quote
    • Rationale: Proximity to support, overlap with prior reaction low and the near-term trend is intact; favorable risk-reward on a bounce if held.

  • Buy Zone 2: around $8.30 – $8.30

    • Status: Historically tested; acts as a secondary cushion
    • Distance from current price: ~ $0.58 or ~ 6.5%
    • Rationale: Strong secondary support, alignment with the uptrend’s pullback tolerance, and potential larger-volume re-entry if a deeper pullback occurs.

  • Breakout/Upper level to watch: $9.00 – $9.20

    • Status: Not yet definitively broken (as of current price)
    • Distance from current price: ~ $0.12 to $0.32, i.e., ~ 1.3% to 3.6%
    • Rationale: A clean breach above this zone with strong volume would attract fresh buyers and extend the measured move higher. Initial target zone could be $9.50–$9.80 if momentum sustains.

Trendlines drawn (visible on the chart):

  • Horizontal support at $8.60
  • Horizontal support at $8.30
  • Horizontal resistance at $9.00

How these levels relate to other references:

  • They line up with near-term price clusters seen on the daily action and with the breakout dynamics in late January.
  • They sit above the MA200 and well above MA50, reinforcing their role as strength zones rather than weakening pivots.
  • Volume surges near the breakout around these levels bolster reliability of the zones as actionable buy interest points.

Notes on actionability:

  • If price revisits $8.60 and holds with stable volume, this region offers a favorable risk-reward long entry.
  • If price dips toward $8.30 and shows signs of a bullish reversal (on strong volume), a second-entry opportunity could emerge.
  • A sustained break above $9.00 with increasing volume would invalidate near-term resistance and suggest a move toward the next resistance/target zone.

Technical Outlook & Summary

  • Price action context

    • The current phase is a bullish extension within a longer uptrend. The price sits above both MA50 and MA200, confirming the underlying positive directional bias. A breakout through the $9.00 resistance would likely attract fresh buyers and push toward the next level.

  • Volume analysis

    • Breakout-related volume increases support the validity of the move. Continued elevated volume on any dip would reinforce accumulation; a lack of volume on a move beyond $9.00 could signal a weaker breakout.

  • Technical signals

    • Buy signals: Price holding above supports at $8.60 and $8.30 with solid volume, plus a bullish MACD stance.
    • Sell/exit considerations: Overbought RSI (~88.7) warns of potential near-term pullback or consolidation; monitor for a slowdown in MACD momentum or a price drop back toward support with weakening volume.

  • Buy levels and rationale

    • Zone A (8.60): Touched; acts as a near-term stop/divot point for a bounce entry.
    • Zone B (8.30): Secondary cushion; favorable for a deeper pullback entry with favorable risk-reward if volume confirms.
    • Zone C (9.00): Breakout hurdle; breakout above this level with strong volume would signal continuation; initial upside targets around $9.50–$9.80.

  • Outlook

    • If the price sustains above $9.00 with robust volume, expect a continued up-move with potential to test higher resistance in the near term.
    • If the stock fails to hold above $8.60 or $8.30 on weaker volume, anticipate a consolidation or a deeper retracement toward the MA baselines or the next major support.

Trendlines drawn for reference (extending beyond current time to capture near-term movement):

  • Support line at $8.60 (extending forward)
  • Support line at $8.30 (extending forward)
  • Resistance line at $9.00 (extending forward)

If you’d like, I can monitor for a potential new breakout and update the indicators in real-time as price action evolves around these levels.

Loading ITUB chart...