NAVI closes above its opening price after recovering from early selling pressure
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.
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.
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
|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...
Learn more about TQ Pro