NAVI pushes through 200-day moving average

Navient (NAVI) Technical Analysis Report for Apr 16, 2018

Highlights

NAVI runs into sellers around 13.47 for the third day in a row
NAVI pushes through 200-day moving average
NAVI finds support at 50-day moving average
NAVI stuck within tight trading range
NAVI closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 36% Bullish
Technical Forecast:

Overview

NAVI finished Monday at 13.39 gaining $0.12 (0.9%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NAVI

Volatility

Monday's trading range was $0.19 (1.42%), that's far below last trading month's daily average range of $0.38. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 13.16 and 13.48 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving lower in the prior session, the share managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 13.26. The stock ran into sellers again today around 13.47 for the third trading day in a row after having found sellers at 13.48 in the prior session and at 13.48 two days ago. After trading as low as 13.28 during the day, Navient found support at the 50-day moving average at 13.31.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. NAVI managed to break above the 200-day moving average at 13.34 today for the first time since April 12th.

Order Flow

Buying might speed up should prices move above the nearby swing high at 13.69 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 13.16 where further sell stops could get triggered. Further buying might move prices higher should the market test March's nearby high at 13.90.

Conclusion

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

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