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 fell below the resistance of 76.22, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 64.61 to 83.44), with negative pressure from the 50-day SMA, countered by positive signals from the RSI.
Therefore we expect more losses for the stock, as long as it settles below 76.22, targeting the next support at 73.99, which represents the ratio 50% of the same retracement levels.
Expected trend for today: Bearish