NAVI snaps to lowest close since May 11th


Navient (NAVI) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
NAVI dominated by bears dragging the market lower throughout the day
NAVI breaks below 100-day moving average
NAVI fails to close above 50-day moving average
NAVI closes lower for the 6th day in a row
NAVI ends the day on a bearish note closing near the low of the day
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

Moving lower for the 6th day in a row, NAVI ended Thursday at 13.49 losing $0.24 (-1.75%). Today's closing price of 13.49 marks the lowest close since May 11th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 13.72, the market confirms its breakout through the previous session's low having traded $0.30 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for NAVI
Volatility

Thursday's trading range was $0.38 (2.76%), that's slightly above last trading month's daily average range of $0.35. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 13.74. After spiking up to 13.80 during the day, Navient found resistance at the 50-day moving average at 13.77.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock broke below the 100-day moving average at 13.64 today for the first time since May 11th.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Navient
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Bounce off SMA 200 TQ Pro Members Only
Doji TQ Pro Members Only
More market conditions identified for TQ Pro members...
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