Northrim BanCorp Inc Stock Forecast
Northrim BanCorp Inc stock price up 1.99% on Monday
(Updated on May 06, 2024)
The Northrim BanCorp Inc stock price gained 1.99% on the last trading day (Monday, 6th May 2024), rising from $49.35 to $50.33. During the last trading day the stock fluctuated 1.06% from a day low at $49.86 to a day high of $50.39. The price has risen in 7 of the last 10 days and is up by 11.82% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 6 thousand shares were bought and sold for approximately $295.09 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.91% during the next 3 months and, with a 90% probability hold a price between $42.80 and $50.24 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NRIM Signals & Forecast
The Northrim BanCorp Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $49.07 and $47.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Northrim BanCorp Inc stock
Northrim BanCorp Inc finds support from accumulated volume at $50.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.530 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: $48.62 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (NRIM) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Northrim BanCorp Inc to open at $50.19, and during the day (based on 14 day Average True Range), to move between $48.72 and $51.94, which gives a possible trading interval of +/-$1.61 (+/-3.20%) up or down from last closing price. If Northrim BanCorp Inc takes out the full calculated possible swing range there will be an estimated 6.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.27 (0.12%) than the resistance at $50.53 (0.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Northrim BanCorp Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.691 Buy Candidate Unchanged
Predicted Opening Price for Northrim BanCorp Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $50.19 ( 0.272%) | $50.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.72 | 0.782 % | |
| R2 | 50.52 | 0.379 % | ||
| R1 | 50.40 | 0.131 % | ||
| Current price: | 50.33 | |||
| Support | S1 | 49.99 | -0.674 % | |
| S2 | 49.87 | -0.92 % | ||
| S3 | 49.66 | -1.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.89 | 1.11 % | |
| R2 | 50.85 | 1.03 % | ||
| R1 | 50.53 | 0.397 % | ||
| Current price | 50.33 | |||
| Support | S1 | 50.27 | -0.119% | |
| S2 | 48.51 | -3.62% | ||
| S3 | 45.91 | -8.78% |
NRIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2024 | Mar 06, 2024 | Mar 15, 2024 | $0.610 | 1.26% |
| 2 | Dec 01, 2023 | Dec 13, 2023 | Dec 22, 2023 | $0.600 | 1.02% |
| 3 | Aug 25, 2023 | Sep 06, 2023 | Sep 15, 2023 | $0.600 | 1.46% |
| 4 | May 25, 2023 | Jun 07, 2023 | Jun 16, 2023 | $0.600 | 1.46% |
| 5 | Jan 26, 2023 | Mar 08, 2023 | Mar 17, 2023 | $0.600 | 1.32% |
FAQ
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