Bank of Nova Scotia Technical Analysis (NYSE:BNS)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. A BNS stock chart pattern can give those who understand technical analysis an indication of which way BNS stock is headed, but cannot predict with 100% certainty as to what can happen to the Bank of Nova Scotia stock price.
View technical indicators like moving averages (SMA and EMA), and bollinger bands for Bank of Nova Scotia. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Bank of Nova Scotia stock analysis.
Bank of Nova Scotia Moving Average:
BNS stock price movements can be forecasted by using triggers based on moving averages, which are also some of the simplest technical indicators. The way the averages are calculated in each of the 2 popular cases, that is SMA and EMA varies, however the interpretation of Bank of Nova Scotia chart patterns after the calculations remain the same. The 100 day moving average of 57.57 is below the last closing price of 58.14. A rise in trend over the long term indicates a long term uptrend. Similarly a falling BNS moving average implies that Bank of Nova Scotia stock price is falling.
Bank of Nova Scotia Bollinger Bands:
Bollinger bands comprise of a center line usually BNS SMA, and two BNS stock price bands above and below it. The stock is considered over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Bank of Nova Scotia bollinger bands show that the stock price is $58.14, upper band is 32.94, lower band is 31.03, and the average is 31.98.
Bank of Nova Scotia Moving Average Convergence Divergence or MACD:
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Bank of Nova Scotia MACD indicator can be used to identify bullish and bearish trends for the stock.
Bank of Nova Scotia Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of BNS stock is 35.2. .