Without a clear-cut direction, Vontier is trading around $21.53 and ranging between $21.47 and $21.82.
Vontier's state is reflected by market data as following a previous reading of 0.2%, Producer Price Index in United States released today at 13:30 UTC fell short of the -0.1% figure expected by analysts with an actual reading of -0.5%. Following a previous reading of -0.6%, Core Retail Sales in United States released today at 13:30 UTC fell short of the -0.4% figure expected by analysts with an actual reading of -1.1%. Highly important Retail Sales data from United States beat analyst expectations of -0.8% with a reading of -1.1%.
Vontier Corporation made an initial break below its 5 day Simple Moving Average at $21.68, a possible indication of a forthcoming negative trend. Vontier's upper Bollinger Band® is at $22.63, suggesting that a downward move may follow. Despite this, Vontier is approaching key support, around 18 cents away from $21.35. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Vontier is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other technology stocks as after closing the previous session (yesterday) at $145.19, IBM lost $4.36 and is trading around $140.83. Qualcomm is trading at $123.33 after ending yesterday's session at $120.28 (up 2.54%). Intel is down to $28.95, losing 2.2%, after ending yesterday at $29.6.
Moreover, as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -1.75 million, following on from the preceding figure of 18.96 million. New data is set to be published tomorrow at 16:00 UTC. United States Philadelphia Fed Manufacturing Index (Jan) is expected tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 214,000 from the preceding figure of 205,000.
Trending downwards for around 1 year, 5 months. The North Carolina manufacturing company has gained 9.63% since its lowest print of $16.71 earlier this year.