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


Navient (NAVI) Technical Analysis Report for Aug 10, 2018 [1 min read]
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
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
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 chart for NAVI
Volatility

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.

Support/Resistance

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

Trend

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

Order Flow

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.

Conclusion

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

Market Conditions for Navient
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NAVI breaks below prior session low

Aug 15, 2018
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