BANK OF NOVA SCOTIA (BNS) Technical Analysis
NYSE:BNS • CA0641491075
Taking everything into account, BNS scores 6 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- In the last month BNS has a been trading in the 71.28 - 78.28 range, which is quite wide. It is currently trading near the lows of this range.
- When comparing the yearly performance of all stocks, we notice that BNS is one of the better performing stocks in the market, outperforming 85% 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 90% 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 2017480 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
2 important support areas can be observed.
- A support zone ranging from 72.07 to 72.07. 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.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 74.72 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 | 85.06 | POSITIVE | BNS has a high relative strength, it outperformed 85.06% 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) | 36.72 | NEUTRAL | The RSI value for BNS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.54 | NEGATIVE | The MACD value suggests BNS has a negative trend. |
| Stochastics (14,3) | 21.5 | NEUTRAL | The Stochastics value for BNS is a neutral value. |
| Average True Range in percent/ATR (20) | 2.07 | MEDIUM VOLATILITY | The ATR as a percentage value for BNS suggests some volalility. |
| Average Directional Index/ADX (14) | 16.4 | NEGATIVE | The low ADX value for BNS suggests a weak or negative trend. |
BNS Technicals: Chart, Performance Metrics, Trend & Indicators
72.08
-0.85 (-1.17%)
BANK OF NOVA SCOTIA / BNS FAQ
What is the technical rating for BNS stock?
ChartMill assigns a technical rating of 6 / 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 36.7236. 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 72.07 and a resistance level at 74.72. Check the full technical report for our detailed analysis of BNS support and resistance levels.