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June 19, 2023A quick look at Friday: the US industrial tech company hovered around the $31.53 level after closing Thursday at $31.78 and shedding 0.79%, as it reached reached Friday's session close.
Vontier Corporation made an initial break below its 3 day Simple Moving Average at $31.65, a possible indication of a forthcoming negative trend. Vontier's upper Bollinger Band® is at $32.34 which indicates a further downward move may follow. Despite this, Vontier could begin to recover as it approaches significant support, now 19 cents away from $31.34. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Vontier to extend its recent losses.
Vontier was not the only decliner in the technology sector; Sony Group Corporation went down 2.11%, closed at $99.67. AMD went down 3.35%, closed at $124.24. ASML Holding went down 2.28%, closed at $738.69.
Furthermore, United States Building Permits (May) scheduled to come out tomorrow at 12:30 UTC.
The stock has been trending positively for about 8 months. The US industrial tech company has appreciated 69.76% over the past six months.
