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Should You Buy Northrim BanCorp (NRIM) After Golden Cross?
Northrim BanpNorthrim Banp(US:NRIM) ZACKSยท2025-05-16 14:56

Core Viewpoint - Northrim BanCorp Inc (NRIM) has reached a significant support level and is considered a good investment opportunity from a technical perspective due to the recent "golden cross" formation in its moving averages [1] Technical Analysis - NRIM's 50-day simple moving average has recently broken above its 200-day moving average, indicating a bullish breakout [1] - A golden cross is characterized by a downtrend followed by a crossover of the shorter moving average over the longer moving average, leading to a potential trend reversal and upward price movement [2] Performance Metrics - NRIM has experienced a rally of 22.7% over the past four weeks, indicating strong momentum [3] - The company currently holds a 1 (Strong Buy) rating on the Zacks Rank, suggesting a favorable outlook for investors [3] Earnings Outlook - There has been one upward revision in earnings estimates for NRIM over the past 60 days, with no downward revisions, indicating positive sentiment [3] - The Zacks Consensus Estimate for NRIM's earnings has also increased, further strengthening the bullish case for the company [4]