Dropping for six consecutive days, Vontier closes at $30.62 (down 1.58%)

Friday at a glance: the North Carolina manufacturing company plunged into the red after losing 1.58%, declining to $30.62.

Vontier Corporation made an initial break below its 21 day Simple Moving Average at $30.56, a possible indication of a forthcoming negative trend. Vontier's upper Bollinger Band® is at $32.12 which indicates a further downward move may follow. Despite this, Vontier could begin to recover as it approaches significant support, now 21 cents away from $30.41. Dipping below could be an indication that further losses are ahead.

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.

Vontier was not the only decliner in the technology sector; Accenture plc Class A (Ireland) closed at $298.43 (down 2.87%). Sony Group Corporation closed at $91.14 (down 2.86%). Texas Instruments went down to $167.68, losing 2.87% after it closed at $172.63 Friday.

The stock has been trending positively for about 8 months. The North Carolina manufacturing company has fallen back around 2.11% from the significant high of $31.78 set 10 days ago.