NAVI dominated by bears dragging the market lower throughout the day


Navient (NAVI) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
NAVI breaks key support level
NAVI dominated by bears dragging the market lower throughout the day
NAVI breaks below 100-day moving average
NAVI closes lower for the 3rd day in a row
NAVI ends the day on a bearish note closing near the low of the day
TQ Sentiment
Report Sentiment: 71% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, NAVI ended the week 2.05% higher at 13.43 after losing $0.23 (-1.68%) today. Today's closing price of 13.43 marks the lowest close since July 6th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 13.64, the share confirms its breakout through the prior session's low having traded $0.26 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

Friday's trading range was $0.30 (2.2%), that's slightly below last trading month's daily average range of $0.30. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Breaking below the key support level at 13.46 today, it is now likely to act as resistance going forward.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock broke below the 100-day moving average at 13.51 today for the first time since June 14th.

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
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NAVI closes within prior day's range

Jul 20, 2018
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