BANK OF NOVA SCOTIA (BNS.CA) Stock Technical Analysis
TSX:BNS - Toronto Stock Exchange - CA0641491075 - Common Stock - Currency: CAD
We assign a technical rating of 7 out of 10 to BNS. BNS has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Besides having an excellent technical rating, BNS also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 73.81. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 73.59, a Stop Loss order could be placed below this zone.
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62.85
When analyzing the support we can see 2 important areas.
- A support zone ranging from 72.91 to 73.59. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 63.48 to 64.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 73.81 to 73.82. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @75.10 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BNS.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BNS.CA is up. |
| ChartMill Relative Strength | 66.84 | NEUTRAL | BNS.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BNS.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BNS.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BNS.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.08 | NEUTRAL | The RSI value for BNS.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests BNS.CA has a negative trend. |
| Stochastics (14,3) | 84.46 | OVERBOUGHT | The high Stochastics value suggests BNS.CA may be overbought. |
| Average True Range in percent/ATR (20) | 1.02 | LOW VOLATILITY | The low ATR as a percentage value for BNS.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 22.13 | NEUTRAL | The ADX value for BNS.CA suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 73.83 | 72.90 | 0.93 (1.26%) | 25.00% |
| An entry @73.83. This is a Buy Stop order right above the resistance zone. | An exit @72.90. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.93 points, which is 1.26%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.31%. |
- The distance between exit and entry is rather small compared to the average daily movement of BNS. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX:BNS (6/13/2025, 7:00:00 PM)
73.78
-0.12 (-0.16%)