360° Coverage : Bank of Nova Scotia Enters Oversold Territory (BNS)

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Bank of Nova Scotia Enters Oversold Territory (BNS)

Jan 10 2014, 4:13pm CST | by

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a...

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33 weeks ago

Bank of Nova Scotia Enters Oversold Territory (BNS)

Jan 10 2014, 4:13pm CST | by

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In trading on Friday, shares of Bank of Nova Scotia Halifax (NYSE: BNS) entered into oversold territory, hitting an RSI reading of 29.95, after changing hands as low as $58.8078 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 62.2. A bullish investor could look at BNS’s 29.95 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of BNS shares:

Looking at the chart above, BNS’s low point in its 52 week range is $52.05 per share, with $63.50 as the 52 week high point — that compares with a last trade of $59.10. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, BNS makes up 3.43% of the Bank and Brokerage ETF (AMEX: RKH) which is trading relatively unchanged on the day Friday.


Can your brain be trained to become a chart-predicting wizard? Click here to find out


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Update
2

10 hours ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company ( ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

1 day ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH3 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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