Bank of Nova Scotia BNS

Breakouts - This Big 6er Bank...

[ace1mccoy]

Wednesday’s breakouts: This ‘Big 6′ bank is in oversold territory, trading down to its 200-day moving average - The Globe and Mail

[BiggyG]

My forward looking charts research indicate we will break $100.00 this year. GLTA

[FiddyFiddyOddzz]

Biggy Biggy Biggy, can't you see, sometimes your words just hypnotize me ! 100 bucks a share suggests a nearly 18 % upside from Friday's close, not impossible, but BNS has a steep climb ahead.  Every time interest rate hikes are mentioned, the banks lately have dipped, completely the opposite to what I expected... Biggy wrote:"My forward looking charts research indicate we will

[BiggyG]

Fiddy I remember that tune LOL........ OK just take a look at a snapshot of a chart say around end of Sept 2021 thru to beginning of Feb 2022. I see a roughly 23% runup in about 5 months, if you pick a low point and a high point. So I think $100 probable. If you look at the 52 week high as a benchmark, $100 is not that far off either say just under 6% with 7-8 months to go. Just looking at the

[FiddyFiddyOddzz]

BIGGY - Good points, it's just a little discouraging to see the bank stocks drop when they announce rate hikes, it baffles me.  I don't think 100 dollars a share is out of the question at all, nor do i think Trudeau's new bank tax is really gonna affect the banks either.  The banks will make their massive profits, they'll just jack up the user fees to do it if they feel

[BiggyG]

Fiddy...The best one can do is try to pick up a few more shares at the low end for now. It is frustrating indeed to see the SP drop

[indmuny]

It would seem higher interest rates would boost the share price since banks profit more with higher rates .... BUT .... the risk is higher owning a bank stock than fixed income and fixed income is about to become much more profitable. If you can handle the risk the reward can be many times fixed income. 

[Capharnaum]

The big banks should return over 10% annual return (compounded), I don't see fixed income becoming "much more profitable".

[indmuny]

To clarify, I didn't mean more profitable than bank stocks, rather, more profitable than fixed income historically and at least more profitable than fixed income recently. In non-registered accounts bank stocks benefit from there tax treatment too of course!