ExxonMobil nears its current support - Analysis - 19-05-2017

ExxonMobil's stock (XOM) fell in the intraday levels, recording a loss of 0.29% in the last session, or 0.24 points, and trespassing the support of the 50-day SMA, exposing it to negative pressure, amid negative signals from relative power indicators, as the stock nears the support of 81.04, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 66.55 to 95.53). 

Therefore we expect more losses for the stock, especially if it pierced the support of 81.04, targeting the next one at 77.62, which represents the ratio 61.8% of the same retracement levels.