Learn to Evaluate Bank Of Nova (BNS) using the Charts

Source: Stock Traders Daily

Longer Term Trading Plans for BNS
  • NONE. Details
  • There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
    This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

  • Short BNS under 61.09, target n/a, stop loss @ 61.27 Details
  • The technical summary data is suggesting a short of BNS as it gets near 61.09, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 61.27. 61.09 is the first level of resistance above 60.67, and by rule, any test of resistance is a short signal. In this case, if resistance 61.09 is being tested, so a short signal would exist.

Swing Trading Plans for BNS
  • Buy BNS over n/a, target n/a, Stop Loss @ 0 Details
  • If n/a begins to break higher, the technical summary data tells us to buy BNS just over n/a, with an upside target of n/a. The data also tells us to set a stop loss @ 0 in case the stock turns against the trade. n/a is the first level of resistance above 60.67, and by rule, any break above resistance is a buy signal. In this case, n/a, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short BNS near n/a, target n/a, Stop Loss @ 0. Details
  • The technical summary data is suggesting a short of BNS if it tests n/a with a downside target of n/a. We should have a stop loss in place at 0 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, n/a, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BNS
  • Buy BNS over 60.39, target 61.09, Stop Loss @ 60.25 Details
  • If 60.39 begins to break higher, the technical summary data tells us to buy BNS just over 60.39, with an upside target of 61.09. The data also tells us to set a stop loss @ 60.25 in case the stock turns against the trade. 60.39 is the first level of resistance above , and by rule, any break above resistance is a buy signal. In this case, 60.39, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short BNS near 60.39, target n/a, Stop Loss @ 60.53. Details
  • The technical summary data is suggesting a short of BNS if it tests 60.39 with a downside target of n/a. We should have a stop loss in place at 60.53 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 60.39, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

BNS Ratings for August 05:

Term →Near Mid Long
Rating Strong Neutral Neutral
P1 0 0 61.09
P2 60.39 60.94 67.17
P3 61.54 62.38 73.35

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BNS Long Term Analysis for August 5 2022


BNS Day Trading Analysis for August 5 2022

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