After having closed Tuesday at $30.65, the US industrial tech company rallied above $31.08 yesterday, for the first time in 1 year — gaining 35 cents — and closed at $31.

Nevertheless, United States Crude Oil Inventories fell short of the 1 million projections, with new data of -451,000.

At the same time, United States Cushing Crude Oil Inventories released yesterday at 14:30 UTC with a figure of 1.72 million, while the previous figure was 1.63 million. United States Trade Balance (Apr) came out at -74.6 billion, while a consensus of analysts was expecting -75.2 billion.

Chart analysis indicates Vontier Corporation is 17 cents away from testing key resistance at $31.18. Peaking above this level could inspire market bulls and open the path to further gains. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Momentum evaluation shows that the Relative Strength Index indicates Vontier is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Vontier's upper Bollinger Band® is at $31.21, 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.

Vontier went up yesterday, yet these technology stocks did not follow — Intuit went down to $422.36, losing 5.83% after it closed at $448.49 yesterday. ServiceNow lost 4.94% yesterday and closed at $528.32. Microsoft went down 3.09%, closed at $333.68.

Furthermore, the market is looking at United States Initial Jobless Claims projected to come out at 235,000 — worse than previous data of 232,000; data will be released today at 12:30 UTC.

The stock has been trending positively for about 8 months. The North Carolina manufacturing company has fallen back around 1.16% over the past a day, from a notable high of $31.