NAVI closes above its opening price after recovering from early selling pressure


Navient (NAVI) Technical Analysis Report for Aug 10, 2018

Highlights

NAVI closes above its opening price after recovering from early selling pressure
NAVI still stuck within tight trading range
NAVI closes within previous day's range
NAVI ends the day indecisive

Overview

NAVI finished the week 0.23% higher at 13.24 after losing $0.09 (-0.68%) today. Trading up to $0.13 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (NAVI as at Aug 10, 2018):

Daily technical analysis candlestick chart for Navient (NAVI) as at Aug 10, 2018

Friday's trading range was $0.26 (1.97%), that's slightly below last trading month's daily average range of $0.28. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 13.03 and 13.37 which it has been in now for the last trading week.

Prices are trading close to the key resistance level at 13.39.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Buying could accelerate should prices move above the close-by swing high at 13.37 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 13.03 where further sell stops might get triggered. Further selling could move prices lower should the market test July's close-by low at 12.91.


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