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SmarTrend Watching for Potential Rebound in Shares of Bank of Nova Scotia After 1.28% Loss

By Shiri Gupta

Bank of Nova Scotia (NYSE:BNS) traded in a range yesterday that spanned from a low of $57.62 to a high of $58.25. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $57.85 on volume of 364,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Bank of Nova Scotia has traded in a range of $35.01 to $62.89 and is now at $57.84, 65% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend is tracking the current trend status for Bank of Nova Scotia and will alert subscribers who have BNS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders bank of nova scotia

Ticker(s): BNS