ExxonMobil amid positive outlook - Analysis - 14-03-2019

ExxonMobil's stock rose in the short term while settling above the support of 79.88, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the short term (from 89.30 to 64.65), with positive signals from the RSI after reaching oversold levels, with positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, targeting the next resistance at 83.48, representing the ratio 76.4% of the same retracement levels, as long as it settles above 79.88. 

Expected trend for today: Bullish