Washington Trust Bancorp Inc

WASH remains in a Stage 2 corrective reset within its broader uptrend, maintaining a medium-term bullish bias. However, the primary Bullish Exhaustion pattern signals weakening upside momentum, and price has been rejected at rising short-term EMAs. We defer bullish engagement until pullbacks into the EMA zone are absorbed.

• ↑Q1 net income $12.6M (66¢/share) shows resilience amid economic challenges
• ↑Net interest income $40.5M (+11% YoY); NIM expected to rise to ~2.63%
• ↓Provision for credit losses jumped to $4M due to two CRE loans moving non-accrual