On Tuesday, Bank of Nova Scotia earned a positive adjustment to its Relative Strength (RS) Rating, from 69 to 72.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the best stocks tend to have an RS Rating north of 80 as they begin their biggest price moves. See if Bank of Nova Scotia can continue to rebound and hit that benchmark.
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Bank of Nova Scotia is working on a flat base with a 55.12 entry. See if it can break out in heavy volume.
While sales growth fell last quarter from 5% to 4%, the bottom line grew -5%, up from -7% in the previous report. The next quarterly results are expected on or around Dec. 3.
The company holds 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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