BANK OF NOVA SCOTIA (BNS)       52.87  -0.49 (-0.92%)

52.87  -0.49 (-0.92%)

CA0641491075 - Common Stock - After market: 53.6 +0.73 (+1.38%)

Technical Rating

4

Taking everything into account, BNS scores 4 out of 10 in our technical rating. BNS has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.



In the last month BNS has a been trading in the 46.88 - 53.49 range, which is quite wide. It is currently trading near the high of this range.
BNS has an average volume of 2283390 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
When compared to the yearly performance of all other stocks, BNS outperforms 43% of them, which is more or less in line with the market.
Considerably lower volume is observed in the last couple of days.
BNS is part of the Banks industry. There are 317 other stocks in this industry, of which 80% are performing better than BNS.
BNS is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 8.70% -2.72% -21.89% -19.12% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 43.73 45.26 - 74.86
BNS Weekly chart
BNS Daily chart

Support/Resistance Analysis


45.82

56.23
We found 1 important support area.
  • A support zone ranging from 46.28 to 46.29. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice 3 important areas.
  • A resistance zone ranging from 53.37 to 53.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @54.31 from a trend line in the weekly time frame.
  • Resistance @55.67 from a trend line in the daily time frame.

Setup Analysis

Setup Rating

7

BNS has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 53.37. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

BNS Daily chart

BANK OF NOVA SCOTIA52.87

NYSE:BNS (11/28/2022, 7:04:01 PM)-0.49 (-0.92%)

After market: 53.6 +0.73 (+1.38%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Financials
GICS Industry Banks
Performance
Today -0.92% 1 Week 2.56%
2 Weeks 2.07% 1 Month 8.7%
3 Month -2.72% 6 Month -21.89%
Volatility
ATR(14) 0.97 ATR(20)% 1.88%
ATR Inc -46.76% Range Today 0.71
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 43.73 Mansfield -1.1
10 Day High 53.5 10 Day Low 51.03
20 Day High 53.5 20 Day Low 46.88
52 Week High 74.86 52 Week Low 45.26
CS1 End 46.29 CR1 Start 53.37
Volume & EV
DER(3) -0.37% DER(5) 0.47%
Volume 2.19M Volume Incr -41.38%
Vol(5) 1.39M Vol(50) 2.28M

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