BANK OF NOVA SCOTIA (BNS) Stock Technical Analysis
USA - NYSE:BNS - CA0641491075 - Common Stock
Overall BNS gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BNS is showing a nice and steady performance.
BNS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 66.77, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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.
More info and screens
44.67
We found 4 important support areas.
- A support zone ranging from 63.31 to 66.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @58.90 from a trend line in the daily time frame.
- Support @46.18 from a horizontal line in the weekly time frame.
- Support @45.12 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 67.45 to 67.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 85.56 | POSITIVE | BNS has a high relative strength, it outperformed 85.56% 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) | 65.29 | NEUTRAL | The RSI value for BNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.11 | POSITIVE | The MACD value suggests BNS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.52 | NEUTRAL | The Stochastics value for BNS is a neutral value. |
| Average True Range in percent/ATR (20) | 1.16 | LOW VOLATILITY | The low ATR as a percentage value for BNS suggests low volalility. |
| Average Directional Index/ADX (14) | 30.94 | POSITIVE | The high ADX value value for BNS suggests a strong 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 |
|---|---|---|---|
| 67.84 | 64.79 | 3.05 (4.49%) | 22.27% |
| An entry @67.84. This is a Buy Stop order right above the resistance zone. | An exit @64.79. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 3.05 points, which is 4.49%. | For a 1.00% total portfolio risk, you can invest 22.27% 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.
67.34
-0.11 (-0.16%)
BANK OF NOVA SCOTIA / BNS FAQ
What is the technical rating for BNS stock?
ChartMill assigns a technical rating of 10 / 10 to BNS.
What is the trend direction for BNS stock?
The current trend direction for BANK OF NOVA SCOTIA (BNS) is Bullish.
What is the RSI signal for BANK OF NOVA SCOTIA (BNS) stock?
BANK OF NOVA SCOTIA (BNS) has an RSI value of 65.2864. This indicates that the stock is currently neutral.
What is the buy/sell signal for BNS stock?
The buy/sell signal for BANK OF NOVA SCOTIA (BNS) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for BANK OF NOVA SCOTIA?
BANK OF NOVA SCOTIA (BNS) has a support level at 66.77 and a resistance level at 67.45. Check the full technical report for our detailed analysis of BNS support and resistance levels.