NAVI snaps to lowest close since May 11th
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.
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.
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.
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.
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
|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|
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