ExxonMobil steadies within safe zone - Analysis - 16-05-2018

ExxonMobil's stock (XOM) fell in the intraday levels, registering a loss of 0.05% in the last session, or 0.04 points, while settling above the support of 81.09, representing the ratio 38.2% of Fibonacci retracement levels for a descending wave in the medium term (from 95.55 to 72.16), as traders collect recent short-term profits, with positive support from the 50-day SMA, coupled with positive signals from the Relative Strength Index. 

Therefore we expect the stock to return higher, as long as it settles above 81.09, targeting the next resistance of 83.85, which represents the ratio 50% of the same retracement levels.