BANK OF NOVA SCOTIA (BNS) Technical Analysis
NYSE:BNS • CA0641491075
We assign a technical rating of 5 out of 10 to BNS. BNS was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- In the last month BNS has a been trading in the 69.84 - 78.28 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- When comparing the yearly performance of all stocks, we notice that BNS is one of the better performing stocks in the market, outperforming 83% of all stocks. On top of that, BNS also shows a nice and consistent pattern of rising prices.
- BNS is part of the Banks industry. There are 381 other stocks in this industry. BNS outperforms 88% of them.
- BNS is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so BNS is performing more or less in line with the market.
- BNS has an average volume of 2043170 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
BNS has an average technical rating and it also does not offer a high quality setup 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
44.67
We found 2 important support areas.
- A support zone ranging from 70.86 to 70.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @45.12 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 74.31 to 77.78. This zone is formed by a combination of multiple trend lines and important moving averages 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 | DOWN | NEGATIVE | The short term trend for BNS is down. |
| ChartMill Relative Strength | 83.18 | POSITIVE | BNS has a high relative strength, it outperformed 83.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BNS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BNS is below a declining 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) | 33.02 | NEUTRAL | The RSI value for BNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.65 | NEGATIVE | The MACD value suggests BNS has a negative trend. |
| Stochastics (14,3) | 12.8 | OVERSOLD | The low Stochastics value suggests BNS may be oversold. |
| Average True Range in percent/ATR (20) | 2.17 | MEDIUM VOLATILITY | The ATR as a percentage value for BNS suggests some volalility. |
| Average Directional Index/ADX (14) | 18.19 | NEGATIVE | The low ADX value for BNS suggests a weak or negative trend. |
BNS Technicals: Chart, Performance Metrics, Trend & Indicators
70.87
-1.21 (-1.68%)
BANK OF NOVA SCOTIA / BNS FAQ
What is the technical rating for BNS stock?
ChartMill assigns a technical rating of 5 / 10 to BNS.
Can you provide the trend direction for BANK OF NOVA SCOTIA?
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 33.0164. This indicates that the stock is currently neutral.
What is the buy/sell signal for BANK OF NOVA SCOTIA (BNS) stock?
The buy/sell signal for BANK OF NOVA SCOTIA (BNS) is hold as the short term and long term trends are mixed.
What is the support and resistance level for BNS stock?
BANK OF NOVA SCOTIA (BNS) has a support level at 70.86 and a resistance level at 74.31. Check the full technical report for our detailed analysis of BNS support and resistance levels.