ExxonMobil amid negative outlook - Analysis - 20-11-2017

ExxonMobil's stock (XOM) fell in the intraday levels, recording a new loss of 0.40% in the last session, or 0.32 points, and confirming the breach of the 81.04 support, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 66.55 to 95.53), amid negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as it settles below 81.04, targeting the support of 77.62.