ExxonMobil returns lower - Analysis - 14-02-2018

ExxonMobil's stock (XOM) returned lower in the intraday levels, registering a loss of 0.16% in the last session, or 0.12 points, after the important resistance of 77.62 held on, representing the ratio 61.8% 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 the resistance of 77.62 holds on, targeting the support of 73.39, which represents the ratio 76.4% of the same retracement levels.