ExxonMobil recently hit an all-time high of over $70 but has been unable to close at or above that level. A 2-month uptrend driven by record $10US billion earnings profit news due to record oil prices seems intact. However indictors such as the RSI are signalling well overbought conditions, and overbought stochastics have crossed attempting to turn lower. Short-sell on break of the uptrend for a lower-risk entry. Fibonacci retracement levels of the trend may serve as possible support levels. Stop-loss: break & close above $70. Deutsche Bank has a "buy" rating (July 28th) on ExxonMobil with a target price raised from $67 to $75.
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