NAVI closes above its opening price after recovering from early selling pressure
Navient Corporation (NAVI) Technical Analysis Report for Mar 27, 2020 | by Techniquant Editorial Team
NAVI finished the week 33.83% higher at 8.03 after edging lower $0.04 (-0.5%) today on low volume, but still notably outperforming the S&P 500 (-3.37%). Trading up to $0.24 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on Monday, NAVI gained 16.83% on the following trading day. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (NAVI as at Mar 27, 2020):
Friday's trading range has been $0.71 (9.16%), that's below the last trading month's daily average range of $1.09. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for NAVI.
One bullish candlestick pattern matches today's price action, the Bullish Hikkake Pattern.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.