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rossgivens
May 2, 2023 2:29 PM

Breakout Trade in VNT Long

Vontier CorporationNYSE

Description

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.
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