Vontier closed at $32.21 yesterday, after six straight days of gains

A quick look at yesterday: pronounced bullish sentiment in the market helped the US industrial tech company to make a notable 0.91% gain yesterday, rising 29 cents and ultimately closing at $32.21.

At the same time, United States Core PCE Price Index (YoY) (May) released yesterday at 12:30 UTC with a figure of 4.6, while the previous figure was 4.7. United States Core PCE Price Index (MoM) (May) came out at 0.3, while a consensus of analysts was expecting 0.3. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -208,300, while the previous figure was -239,300.

Chart analysis suggests after reaching the known resistance zone beginning at $32.49, Vontier Corporation price action retreated approximately 28 cents. Trend-focused traders would be interested to note that investors are seeking long positions as Vontier price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $32.37, thereby suggesting that Vontier is becoming overvalued.

Notwithstanding Vontier's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

This rally in Vontier's share price coincided with other technology stocks as Apple was up 2.31%. NVIDIA traded at $423 after closing yesterday's trading day at $408.22 (up 3.63%). ServiceNow was up 2.53%.

The stock has been trending positively for about 8 months. Having soared to a high of $32.21 approximately a day ago, the North Carolina manufacturing company is now trading 0.9% lower.