Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
ExxonMobil's stock fell in the intraday levels, registering a loss of 0.51% in the last session, or 0.46 points, after the pivotal resistance of 90.16 held on, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the long term (from 104.76 to 66.55), with the stock trying to garner positive momentum to help it breach that level, with ongoing positive support from the SMA for the last 50 days period.
Therefore we expect the stock to return higher in the coming trading, provided the stock breaches the resistance of 90.16, targeting thereafter the resistance of 96.58, which represents the ratio 78.6% of the same retracement levels.