BANK OF NOVA SCOTIA (BNS) Stock Technical Analysis
USA - NYSE:BNS - CA0641491075 - Common Stock
64.34 USD
+0.28 (+0.44%)
64.34 USD
0 (0%)
We assign a technical rating of 10 out of 10 to BNS. Both in the recent history as in the last year, BNS has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that BNS is one of the better performing stocks in the market, outperforming 80% of all stocks. We also observe that the gains produced by BNS over the past year are nicely spread over this period.
BNS is part of the Banks industry. There are 391 other stocks in this industry. BNS outperforms 90% of them.
BNS is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
BNS has an average volume of 1768840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month BNS has a been trading in a tight range between 62.98 and 65.52.
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. There is a resistance zone just above the current price starting at 64.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 64.28, a Stop Loss order could be placed below this zone.
More info and screens
44.67
66.02
We found 4 important support areas.
- A support zone ranging from 61.80 to 64.28. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @59.89 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 64.93 to 65.37. 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 | 80.95 | POSITIVE | BNS has a high relative strength, it outperformed 80.95% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BNS is above a declining 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) | 56.37 | NEUTRAL | The RSI value for BNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests BNS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 42.13 | NEUTRAL | The Stochastics value for BNS is a neutral value. |
| Average True Range in percent/ATR (20) | 1.11 | LOW VOLATILITY | The low ATR as a percentage value for BNS suggests low volalility. |
| Average Directional Index/ADX (14) | 26.07 | 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 |
|---|---|---|---|
| 65.38 | 62.97 | 2.41 (3.69%) | 25.00% |
| An entry @65.38. This is a Buy Stop order right above the resistance zone. | An exit @62.97. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.41 points, which is 3.69%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.92%. |
- 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.
64.34
+0.28 (+0.44%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.44%
1 Week0.31%
2 Weeks0.25%
1 Month-0.05%
3 Month13.63%
6 Month31.84%
12 Month24.26%
2 Year58.98%
3 Year33.15%
5 Year54.81%
10 Year36.95%
15 Year20.24%
Volatility
ATR(14)0.75
ATR(20)%1.11%
ATR Inc-41.38%
Range Today0.48
ADR(20)0.66
ADR(20)%1.02%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS80.95
Mansfield0.64
10 Day High64.77
10 Day Low62.98
20 Day High65.52
20 Day Low62.98
52 Week High65.52
52 Week Low44.09
CS1 End64.28
CR1 Start64.93
Volume & EV
DER(3)0.36%
DER(5)0.46%
Volume1.02M
Volume Incr-26.12%
Vol(5)1.28M
Vol(50)1.77M