ExxonMobil resumes decline - Analysis - 24-08-2017

ExxonMobil's stock (XOM) returned lower in the intraday levels, recording a loss of 0.17% in the last session, or 0.13 points, amid negative pressure from the 50-day SMA, while the stock settled below the resistance of 77.62, representing the ratio 61.8% 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, targeting the support of 73.39, which represents the ratio 78.6% of the same retracement levels, as long as the resistance of 77.62 holds on.