NORTHRIM BANCORP INC (NRIM) Stock Technical Analysis
NASDAQ:NRIM - Nasdaq - US6667621097 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to NRIM. Both in the recent history as in the last year, NRIM has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, NRIM did better than 92% of all other stocks. We also observe that the gains produced by NRIM over the past year are nicely spread over this period.
NRIM is one of the better performing stocks in the Banks industry, it outperforms 95% of 395 stocks in the same industry.
NRIM is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so NRIM is leading the market.
NRIM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
Besides having an excellent technical rating, NRIM also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 90.26. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 89.11, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
68.56
91.64
When analyzing the support we can see 3 important areas.
- A support zone ranging from 86.13 to 89.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 71.80 to 71.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 69.25 to 69.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 90.26 to 90.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NRIM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NRIM is up. |
| ChartMill Relative Strength | 92.43 | POSITIVE | NRIM has a high relative strength, it outperformed 92.43% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NRIM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NRIM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NRIM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.52 | OVERBOUGHT | The high RSI value suggests NRIM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests NRIM has a negative trend. |
| Stochastics (14,3) | 81.01 | OVERBOUGHT | The high Stochastics value suggests NRIM may be overbought. |
| Average True Range in percent/ATR (20) | 2.62 | MEDIUM VOLATILITY | The ATR as a percentage value for NRIM suggests some volalility. |
| Average Directional Index/ADX (14) | 49.25 | POSITIVE | The high ADX value value for NRIM suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 90.74 | 86.12 | 4.62 (5.09%) | 19.64% |
| An entry @90.74. This is a Buy Stop order right above the resistance zone. | An exit @86.12. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.62 points, which is 5.09%. | When investing 19.64% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
90.25
+0.02 (+0.02%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.02%
1 Week0.69%
2 Weeks4.65%
1 Month10.86%
3 Month9.66%
6 Month6.09%
12 Month54.51%
2 Year138.06%
3 Year117.16%
5 Year291.2%
10 Year269.12%
15 Year424.1%
Volatility
ATR(14)2.44
ATR(20)%2.62%
ATR Inc11.53%
Range Today1.88
ADR(20)2.22
ADR(20)%2.46%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.43
Mansfield1.96
10 Day High91.4
10 Day Low86
20 Day High91.4
20 Day Low78.65
52 Week High91.72
52 Week Low52.1
CS1 End89.11
CR1 Start90.26
Volume & EV
DER(3)0.77%
DER(5)1.22%
Volume110.03K
Volume Incr111.05%
Vol(5)66.77K
Vol(50)33.27K