Yesterday at a glance: after closing at $27.41 on Friday, Vontier rallied as high as $27.81 but ended the day at $27.46.
Vontier's notable support and resistance levels: after reaching the known resistance zone beginning at $27.75, Vontier Corporation price action retreated approximately 29 cents. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Vontier's upper Bollinger Band® is at $27.91, this is a slight indication of a slowdown.
Overall, while Vontier has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Vontier was bullish yesterday, the following technology stocks underperformed: Intel went down to $29.66, losing 2.11% after it closed at $30.3 yesterday. Microsoft decreases 1.4% yesterday to close at $285.76. Salesforce went down 2.07%, closed at $199.03.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was -0.1%, data will be available tomorrow at 12:30 UTC.
The market is looking forward to the release of new data: United States Building Permits is scheduled for today at 13:30 UTC.
Trading mostly sideways for 1 year, 5 months. This year has been a bright one for the North Carolina manufacturing company after trading as low as $16.71 and going on to appreciate by 40% year to date.