The Relative Strength (RS) Rating for Bank of Nova Scotia moved into a new percentile Thursday, as it got a lift from 67 to 72.
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IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they begin their largest runs. See if Bank of Nova Scotia can continue to rebound and clear that threshold.
Bank of Nova Scotia is trying to complete a consolidation with a 57.07 buy point. See if it can clear the breakout price in heavy trade.
Earnings growth dropped in the most recent quarter from 28% to 4%. But sales moved higher, from 3% to 11%. The company is expected to report its latest earnings and sales numbers on or around May 27.
The company holds the No. 17 rank among its peers in the Banks-Money Centers industry group. NatWest Group ADR, Barclays ADR and Royal Bank of Canada are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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