Itau Unibanco Holding SA

ITUB remains structurally bullish on both the long and medium-term horizons—rising EMAs, a successful break above the 50 SMA, and an active Bullish Pivot Point pattern signal a mean-reversion rally with room toward the 52-week high. However, price is extended above the 9 and 20 EMAs and bumping into short-term resistance with overbought RSI and elevated Options Score. Timing is unfavorable now; waiting for a pullback into the rising EMA/50 SMA support zone aligns with our Growth at Reasonable Price discipline.

• ↑Q2’25 net income R$12.3 bn, +13.2% YoY, ROE 24.4%.
• ↑Efficiency ratio improved to 38.9%, leading peers on cost.
• ↓Delinquency risk rising amid high interest rates and funding costs.