Vontier closes at $27.38, up 0.92%, adding one more to its 4th straight day of gains

A quick look at yesterday: Vontier ended Friday's session at $27.13. yesterday started with an increase to $27.57, but dropped back and closed at $27.38.

Meanwhile, United States ISM Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 47.1, while the previous figure was 46.3. United States ISM Manufacturing Prices (Apr) came out at 53.2, while a consensus of analysts was expecting 49. United States ISM Manufacturing Employment (Apr) released yesterday at 14:00 UTC with a figure of 50.2, while the previous figure was 46.9.

Trend-focused traders would be interested to note that Vontier Corporation made an initial breakout above its 10 day Simple Moving Average at $27.07, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Vontier's upper Bollinger Band® is at $27.86, this is a slight indication of a slowdown. Visual analysis of Vontier's chart shows that Vontier could be slowing down soon; it is getting close to the resistance line and is now at $27.64, only 26 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

All in all, the technical analysis suggests Vontier has no clear-cut direction.

This rally in Vontier's share price coincided with other technology stocks as Sony Group Corporation added 2.81% to its value, and traded at $92.19. NVIDIA was up 4.18%.

While Vontier was bullish yesterday, the following technology stocks underperformed: Intel lost 2.45% yesterday and closed at $30.3.

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 -1,000,000, having previously been at -5 million. The figure will be published tomorrow at 14:30 UTC.

Also worthy of note, United States Interest Rate figure is projected at 5.25. It previously stood at five; data will be released tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Apr) scheduled to come out tomorrow at 12:15 UTC.

Trading mostly sideways for 1 year, 5 months. The US industrial tech company has managed to gain 40% so far this year despite trading at lows around $16.71 previously.