Is Bank of Nova Scotia (BNS) Stock About to Get Hot Thursday?

Bank of Nova Scotia (BNS) stock is up 1.61% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Bank of Nova Scotia has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BNS!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With BNS Stock Today?

Bank of Nova Scotia (BNS) stock is trading at $59.16 as of 12:39 PM on Thursday, Jun 30, a loss of -$0.39, or -0.65% from the previous closing price of $59.55. Volume today is above average. So far 2,824,570 shares have traded compared to average volume of 1,557,064 shares. The stock has traded between $58.15 and $59.28 so far today. To screen for more stocks like Bank of Nova Scotia click here.

More About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank's international operations span numerous countries and are more concentrated in Central and South America. Click Here to get the full Stock Report for Bank of Nova Scotia stock.