NORTHRIM BANCORP INC (NRIM) Stock Technical Analysis
USA - NASDAQ:NRIM - US6667621097 - Common Stock
Taking everything into account, NRIM scores 7 out of 10 in our technical rating. NRIM has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Besides having an excellent technical rating, NRIM also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 23.42. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.32, a Stop Loss order could be placed below this zone.
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18.24
When analyzing the support we can see 5 important areas.
- A support zone ranging from 21.84 to 22.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @20.80 from a trend line in the weekly time frame.
- A support zone ranging from 20.12 to 20.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @19.75 from a horizontal line in the daily time frame.
- Support @18.42 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 23.42 to 23.73. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 24.77 to 24.77. 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 | 62.67 | NEUTRAL | NRIM is not amongst the best or worst performers 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) | 57.9 | NEUTRAL | The RSI value for NRIM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests NRIM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 58.15 | NEUTRAL | The Stochastics value for NRIM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.73 | MEDIUM VOLATILITY | The ATR as a percentage value for NRIM suggests some volalility. |
| Average Directional Index/ADX (14) | 29.93 | POSITIVE | The high ADX value value for NRIM suggests a strong trend. |
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 |
|---|---|---|---|
| 23.74 | 22.44 | 1.31 (5.50%) | 18.19% |
| An entry @23.74. This is a Buy Stop order right above the resistance zone. | An exit @22.43. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.31 points, which is 5.50%. | For a 1.00% total portfolio risk, you can invest 18.19% of your capital in this trade. |
- 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.
23.13
+0.15 (+0.65%)
NORTHRIM BANCORP INC / NRIM FAQ
What is the technical rating for NRIM stock?
ChartMill assigns a technical rating of 7 / 10 to NRIM.
What is the trend direction for NRIM stock?
The current trend direction for NORTHRIM BANCORP INC (NRIM) is Bullish.
What is the RSI signal for NRIM stock?
NORTHRIM BANCORP INC (NRIM) has an RSI value of 57.9017. This indicates that the stock is currently neutral.
What is the short term momentum for NRIM stock?
The short term momentum for NORTHRIM BANCORP INC (NRIM) is positive.
What are the support and resistance levels for NORTHRIM BANCORP INC (NRIM) stock?
NORTHRIM BANCORP INC (NRIM) has a support level at 22.32 and a resistance level at 23.42. Check the full technical report for our detailed analysis of NRIM support and resistance levels.