The US industrial tech company is sharply lower after losing 1.54%, declining as low as $18.86 at the end of the trading session.
Vontier is currently trading at $18.86 following the release of EIA Short-Term Energy Outlook data from the United States.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 56.5, while the previous figure was 54.4. United States Trade Balance (Oct) came out at -78.2 billion, while a consensus of analysts was expecting -80 billion. United States Exports is released with a new figure of 256.6 billion, this is down from preceding data of 258.5 billion.
'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Vontier's upper Bollinger Band® is at $20.49 which indicates a further downward move may follow. Vontier pushed below the $18.95 support level and extended 8 cents beyond it.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Vontier to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the North Carolina manufacturing company is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other technology stocks as Accenture plc Class A (Ireland) is down to $283.8, losing 3.06%, after ending yesterday at $292.74. After closing the previous session (yesterday) at $146.63, Apple lost $4.37 and is trading around $142.26. AMD is down to $69.72, losing 5.3%, after ending yesterday at $73.62.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million. It previously stood at -12.58 million; data will be released tomorrow at 15:30 UTC.
On a negative trend for around 1 year, 5 months. The US industrial tech company traded as high as $31.91 before shedding 29% lower over the past six months.