BANK OF NOVA SCOTIA (BNS) Stock Technical Analysis
NYSE:BNS - New York Stock Exchange, Inc. - CA0641491075 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to BNS. In the last year, BNS was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
The long and short term trends are both positive. This is looking good!
In the last month BNS has a been trading in the 48.22 - 52.00 range, which is quite wide. It is currently trading near the high of this range.
BNS has an average volume of 2092860 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, BNS did better than 73% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
BNS is an average performer in the Banks industry, it outperforms 49% of 396 stocks in the same industry.
BNS is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BNS is lagging the market slightly.
Although BNS has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
44.10
52.69
3 important support areas can be observed.
- A support zone ranging from 49.82 to 51.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 46.05 to 46.54. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A support zone ranging from 44.55 to 45.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 51.81 to 52.17. This zone is formed by a combination of multiple trend lines 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 is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BNS is up. |
| ChartMill Relative Strength | 73.54 | POSITIVE | BNS has a high relative strength, it outperformed 73.54% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BNS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BNS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BNS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.58 | OVERBOUGHT | The high RSI value suggests BNS may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests BNS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 82.2 | OVERBOUGHT | The high Stochastics value suggests BNS may be overbought. |
| Average True Range in percent/ATR (20) | 0.96 | LOW VOLATILITY | The low ATR as a percentage value for BNS suggests low volalility. |
| Average Directional Index/ADX (14) | 35.12 | POSITIVE | The high ADX value value for BNS suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 52.18 | 50.11 | 2.07 (3.97%) | 25.00% |
| An entry @52.18. This is a Buy Stop order right above the resistance zone. | An exit @50.11. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.07 points, which is 3.97%. | For a 0.99% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
51.62
+0.08 (+0.16%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.16%
1 Week0.43%
2 Weeks3.05%
1 Month6.3%
3 Month2.22%
6 Month-8.56%
12 Month8.04%
2 Year6.85%
3 Year-23.76%
5 Year28.99%
10 Year-1.99%
15 Year13.05%
Volatility
ATR(14)0.44
ATR(20)%0.96%
ATR Inc-10.82%
Range Today0.4
ADR(20)0.47
ADR(20)%0.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.54
Mansfield0.04
10 Day High52
10 Day Low50.12
20 Day High52
20 Day Low48.22
52 Week High57.07
52 Week Low43.68
CS1 End51.6
CR1 Start51.81
Volume & EV
DER(3)-2.6%
DER(5)-2.47%
Volume1.66M
Volume Incr6.38%
Vol(5)1.77M
Vol(50)2.09M