As this happened, Barclays upgraded its Bank Of Nova Scotia [BNS] rating to an Equal weight from a an Underweight in a research note published recently. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who increased its forecast for the stock in mid November from “a Hold” to “a Buy”. BofA Securities also remained covering BNS and has increased its forecast on November 19, 2024 with a “Buy” recommendation from previously “Neutral” rating. UBS revised its rating on November 18, 2024. It rated BNS as “a Buy” which previously was an “a Neutral”.
Price Performance Review of BNS
On Friday, Bank Of Nova Scotia [NYSE:BNS] saw its stock fall -1.59% to $50.88. Over the last five days, the stock has lost -0.84%. Bank Of Nova Scotia shares have fallen nearly -5.29% since the year began. Nevertheless, the stocks have risen 10.95% over the past one year. While a 52-week high of $57.07 was reached on 01/06/25, a 52-week low of $43.67 was recorded on 01/13/25. SMA at 50 days reached $54.23, while 200 days put it at $50.08.
Levels Of Support And Resistance For BNS Stock
The 24-hour chart illustrates a support level at 50.52, which if violated will result in even more drops to 50.16. On the upside, there is a resistance level at 51.51. A further resistance level may holdings at 52.13. The Relative Strength Index (RSI) on the 14-day chart is 31.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.75%. Stochastics %K at 28.92% indicates the stock is a holding.
How much short interest is there in Bank Of Nova Scotia?
A steep rise in short interest was recorded in Bank Of Nova Scotia stocks on 2024-11-15, dropping by -4.66 million shares to a total of 26.85 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 31.51 million shares. There was a decline of -17.37%, which implies that there is a negative sentiment for the stock.
