ExxonMobil settles at positive zone - Analysis - 17-04-2019

ExxonMobil's stock settled above 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 support from the 50-day SMA, while the RSI reached oversold levels compared to the stock's movements. 

Therefore we expect more gains for the stock, targeting the next resistance of 83.48, which represents the ratio 78.6% of the same retracement levels as long as it settles above 79.88. 

Expected trend for today: Bullish