Bank of Nova Scotia had its Relative Strength (RS) Rating upgraded from 68 to 73 Friday — a welcome improvement, but still short of the 80 or higher score you look for.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they begin their biggest price moves. See if Bank of Nova Scotia can continue to rebound and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Bank of Nova Scotia is trying to complete a flat base with a 55.12 buy point. See if it can clear the breakout price in heavy trade.
Earnings growth rose in the company's latest report from -7% to -5%, but revenue fell from 5% to 4%. The company is expected to report its latest earnings and sales numbers on or around Dec. 3.
Bank of Nova Scotia earns the No. 18 rank among its peers in the Banks-Money Centers industry group. NatWest Group ADR, Morgan Stanley and Goldman Sachs are among the top 5 highly rated stocks within the group.
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