BANK OF NOVA SCOTIA (BNS) Stock Technical Analysis
NYSE:BNS - New York Stock Exchange, Inc. - CA0641491075 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to BNS. 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.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that BNS is one of the better performing stocks in the market, outperforming 79% of all stocks.
BNS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BNS is lagging the market slightly.
In the last month BNS has a been trading in the 51.00 - 54.31 range, which is quite wide. It is currently trading near the high of this range.
BNS has an average volume of 2021640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
BNS is part of the Banks industry. There are 396 other stocks in this industry, BNS did better than 63% of them.
BNS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. 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
54.85
2 important support areas can be observed.
- A support zone ranging from 46.18 to 46.79. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @45.12 from a horizontal line in the weekly time frame.
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 | 79.88 | POSITIVE | BNS has a high relative strength, it outperformed 79.88% 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) | 75.88 | OVERBOUGHT | The high RSI value suggests BNS may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests BNS has a negative trend. |
| Stochastics (14,3) | 93.77 | OVERBOUGHT | The high Stochastics value suggests BNS may be overbought. |
| Average True Range in percent/ATR (20) | 1.13 | LOW VOLATILITY | The low ATR as a percentage value for BNS suggests low volalility. |
| Average Directional Index/ADX (14) | 52.8 | 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 |
|---|---|---|---|
| 54.32 | 53.17 | 1.15 (2.12%) | 25.00% |
| An entry @54.32. This is a Buy Stop order right above the 10 day high. | An exit @53.17. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.15 points, which is 2.12%. | For a 0.53% total portfolio risk, you can invest 25.00% 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.
54.31
+0.46 (+0.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.85%
1 Week1.27%
2 Weeks1.97%
1 Month6.41%
3 Month13.26%
6 Month-2%
12 Month17.17%
2 Year8.53%
3 Year-8.28%
5 Year31.69%
10 Year5.19%
15 Year18.01%
Volatility
ATR(14)0.68
ATR(20)%1.13%
ATR Inc-22.25%
Range Today0.36
ADR(20)0.59
ADR(20)%1.09%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.88
Mansfield0.18
10 Day High54.31
10 Day Low53.18
20 Day High54.31
20 Day Low51
52 Week High57.07
52 Week Low43.68
CS1 End46.79
CR1 StartN/A
Volume & EV
DER(3)0.79%
DER(5)2.43%
Volume1.01M
Volume Incr46.94%
Vol(5)2.39M
Vol(50)2.02M