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 closed higher in the intraday levels, recording a profit of 0.08% in the last session, or 0.07 points, as the stock tries to gather positive momentum to help it rise and attack the pivotal resistance of 90.16, 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 ongoing positive pressure from the SMA for the last 50 days period.
Therefore we expect more gains to come for the stock, provided it breaches the resistance of 90.16, targeting thereafter the resistance of 96.58, which represents the ratio 78.6% of the same retracement levels.