Northrim (NRIM) Forms 'Hammer Chart Pattern': Time for Bottom Fishing?

The price trend for Northrim BanCorp (NRIM) has been bearish lately and the stock has lost 12.1% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street an ...