Full throttle for these 3 stocks as uptrends break new ground

Published: May 26 2023, 22:20 GMT+0

Full throttle for these 3 stocks as uptrends break new ground

Vontier Corporation, Palantir Technologies Inc., monday.com Ltd. are the ones to notice as they lead stocks on an uptrend.

Leading equity indices in the US rose as Nasdaq closed the day at 12,976, having gained 2.19%. S&P 500 gained 1.3% and closed at 4,205.45.

Meanwhile, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%.

What is an uptrend?

An uptrend describes the price movement of a continuously appreciative financial asset over a particular time frame. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs.

Vontier continues a month uptrend; moves up 2.84% today

After setting a $29.34 – $30.07 range, Vontier Corporation closed the day at $30.03 having risen 2.84%. The North Carolina manufacturing company topped out at $30.07 having ended today at $30.03. However, despite early momentum, the stock gave up its gains to now trade at $30.03. Daily trading volume (1 million shares) was slightly greater than the current multiday average of 896,786. Vontier disclosed a quarterly dividend of 2.5 cents per share on Tuesday, February 14th that was paid on Thursday, March 23rd to all shareholders of record up until Thursday, March 2nd. Based on current prices, the company's decision thereby provides Vontier investors with an annual dividend yield of 0.333%.

Palantir Technologies continues an 8 day uptrend; soars 6.31% today

After setting a $12.82 – $14.2 range, Palantir Technologies closed the day at $13.65 having risen 6.31%. The data analytics specialist reached $14.2, breaking a 1 year record. Later, it lost 54.5 cents and is now trading at $13.65. Pronounced bullish sentiment in the market helped the big data analytics company to make a notable 6.31% gain today, rising 81 cents and ultimately closing at $13.65. Daily trading volume (125.39 million shares) increased, making up 153% of the 21-day average (81.93 million).

Monday.com continues a 16 day uptrend; goes up 0.85% today

Today's session pointed in the same direction — after closing at $165.79 on yesterday, monday.com maintained a strong bullish bias that helped the stock close higher at $167.2 today. However, market bears ensured the the cloud-based project management specialist topped out at $169.28 and that by the end of the session, the market had marked out a distinct $163.1 to $169.28 range. After setting a $163.1 – $169.28 range, monday.com closed the day at $167.2 having risen 0.85%. Today's trading volume was 1.18 million shares which is slightly under the 21-day average of 1.25 million.

The company has a market cap of $7.98 billion with an average daily volume of 1.25 million shares. Monday.com hit a significant low of $76.46 around 6 months ago, but has since recovered 116.83%. Monday.com is forecasted to generate revenues of $155.33 million and EPS of -28 cents.