Vontier is an industrial machinery company setting up in a textbook breakout pattern.
After surging more than 50% off the October lows and reclaiming its 200-day moving average, shares have consolidated in a series of shallowing pullbacks. Retracements have tightened from 11% to 7% to just 4.5% with resistance at 27.50.
Look for a breakout above 27.60 on above average volume as the entry trigger. My stop would be just beneath the swing low at 26.15 to risk 5% on the trade.
After surging more than 50% off the October lows and reclaiming its 200-day moving average, shares have consolidated in a series of shallowing pullbacks. Retracements have tightened from 11% to 7% to just 4.5% with resistance at 27.50.
Look for a breakout above 27.60 on above average volume as the entry trigger. My stop would be just beneath the swing low at 26.15 to risk 5% on the trade.