Washington Trust(WASH) ZACKS·2025-01-09 15:56Core Viewpoint - Washington Trust Bancorp (WASH) has experienced a downtrend, losing 16.4% over the past four weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottom formation, suggesting that selling pressure may be exhausting and that bulls could be gaining control [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that the stock opened lower, made a new low, but closed near or above the opening price, reflecting buying interest [3][4]. Fundamental Analysis - Recent upward revisions in earnings estimates for WASH serve as a bullish indicator, with a 4.1% increase in the consensus EPS estimate over the last 30 days, suggesting analysts expect better earnings than previously predicted [6][7]. - WASH holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, indicating strong potential for outperformance in the market [8].