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May 23, 2023Yesterday at a glance: although Vontier increased from $29.29 to $29.52, the stock dropped back and is now priced at $29.22.
United States Building Permits is next today at 12:00 UTC.
Vontier Corporation made an initial break below its 3 day Simple Moving Average at $29.21, a possible indication of a forthcoming negative trend. Vontier's upper Bollinger Band® is at $29.71 which indicates a further downward move may follow. Despite this, Vontier could begin to recover as it approaches significant support, now 17 cents away from $29.05. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Vontier.
On the other hand, positive performances could be seen by looking at other technology stocks as Intuit traded at $454.11 after closing yesterday's trading day at $446.03 (up 1.81%). Microsoft added 0.89% to its value, and traded at $321.18. AMD traded at $108 after closing yesterday's trading day at $105.82 (up 2.06%).
Looking ahead, ongoing depreciation may be prolonged as United States Crude Oil Inventories projected to decline to -920,000 while previous data was 5 million; data will be released tomorrow at 14:30 UTC.
Furthermore, United States New Home Sales (Apr) is scheduled for today at 14:00 UTC. United States Services PMI is expected today at 13:45 UTC.
Trading mostly sideways for 1 year, 5 months. The North Carolina manufacturing company has managed to gain 48.68% so far this year despite trading at lows around $16.71 previously.
