BNS Bank of Nova Scotia Forecast, Technical & Fundamental Analysis

BNS in -1.95% downward trend, sliding for three consecutive days on December 05, 2023

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where BNS declined for three days, in of 310 cases, the price declined further within the following month. The odds of a continued downward trend are .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

The Momentum Indicator moved below the 0 level on December 05, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on BNS as a result. In of 75 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where BNS's RSI Oscillator exited the oversold zone, of 36 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BNS just turned positive on November 02, 2023. Looking at past instances where BNS's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .

BNS moved above its 50-day moving average on November 29, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for BNS crossed bullishly above the 50-day moving average on November 24, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 20 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BNS advanced for three days, in of 325 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 250 cases where BNS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BNS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.017) is normal, around the industry mean (0.913). P/E Ratio (9.980) is within average values for comparable stocks, (8.279). BNS's Projected Growth (PEG Ratio) (11.026) is slightly higher than the industry average of (3.512). Dividend Yield (0.073) settles around the average of (0.055) among similar stocks. P/S Ratio (2.185) is also within normal values, averaging (2.374).

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BNS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 68, placing this stock worse than average.