A quick look at today: after closing at $18.4 today, Vontier maintained a strong bullish bias that helped the stock close higher at $18.4. However, market bears ensured the Vontier topped out at $18.88 and that by the end of the session, the market had marked out a distinct $18.04 to $18.88 range.
New United States Crude Oil Inventories improved upon the previous -3.12 million figure while also exceeding analyst expectations with a reading of 3.92 million.
Vontier's uptick comes amid good United States macroeconomic data released during the day — United States Crude Oil Inventories came out at 3.92 million, better than analyst estimates of 1.36 million and improving upon the previous reading of -3.12 million.
At the same time, United States 10-Year Note Auction released today at 18:00 UTC with a figure of 4.14, while the previous figure was 3.93. Fresh Cushing Crude Oil Inventories data from United States came out at -923,000.
Chart analysis indicates Vontier Corporation could be slowing down soon; it is getting close to the resistance line and is now at $18.89, only 49 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend-focused traders would be interested to note that Vontier made an initial breakout above its 21 day Simple Moving Average at $18.26, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $18.04 to $18.88, Fibonacci-inclined Vontier traders were highly concentrated around active Fibonacci resistance at $18.77. Asset volatility analysis shows that Vontier's upper Bollinger Band® is at $19.76, this is a slight indication of a slowdown.
Notwithstanding Vontier's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
A look at other technology stocks also showed bullish price action as Coherent, Inc. traded at $32.21 after closing today's trading day at $29.95 (up 7.55%).
While Vontier was bullish today, the following technology stocks underperformed: Apple closed at $134.87 (down 3.32%). NVIDIA falls 5.66% today to close at $146.02.
Furthermore, the market is looking at United States Consumer Price Index figure is projected at 0.6%. It previously stood at 0.4%; data will be released tomorrow at 13:30 UTC. United States Core Consumer Prices figure is projected at 0.5%. It previously stood at 0.6%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index figure is projected at 8%. It previously stood at 8.2%; data will be released tomorrow at 13:30 UTC.
Pointing downwards for around 1 year, 5 months. Vontier has shed 25.48% over the past three months.