Bank of Nova Scotia stock price forecast: C$110.66–C$114.58 range as BNS trades flat

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Bank of Nova Scotia up 0.23% today

Highlights

BNS/CAD maintains a strong bullish trend, trading above major moving averages with robust momentum indicators supporting further upside.
Technical signals suggest overbought conditions and clear buyer dominance despite low volatility in the current session.
Expected price range for the next 2–3 days is C$110.66 to C$114.58, with a high probability of an upside breakout.

Technical momentum robust despite Awesome Oscillator neutrality

BNS has moved above the MA-20 at C$112.51 and MA-50 at C$111.11 on the hourly chart, maintaining a clear lead over the long-term MA-200 at C$97.90. Immediate technical support is defined by the Ichimoku Kijun at C$112.18. Momentum indicators largely confirm strong buying signals: MACD indicates a Strong Buy and ADX signals Buy, while RSI is elevated at 62.55; CCI and Stoch RSI remain in overbought or strong buy territory. BBP similarly highlights clear intraday buyer dominance. The only divergence emerges from the Awesome Oscillator, signaling neutrality even as overall momentum readings remain robust.

Bullish breakout risk rises as upside odds improve

Looking ahead to the next 2-3 trading days, BNS is expected to remain within a price corridor of C$110.66 to C$114.58, defining the typical volatility band relative to current levels. The probability of an upward move beyond C$114.58 is classified as very high, with a break above this resistance marking the bullish scenario. Conversely, a move below the C$110.66 support represents the bearish case, though this outcome appears far less likely based on current technical and momentum conditions.

Viktoras Karapetjanc, expert at Traders Union, sees persistent momentum in Bank of Nova Scotia shares. The price action remains decisively bullish above key moving averages. Technical indicators show sustained buying strength, with resistance at C$114.58 in focus. Karapetjanc believes fundamental and macro factors continue to underpin sentiment, even as news catalysts are absent. "BNS is well positioned for further gains, and a breakout above C$114.58 could attract more institutional interest."

Earlier, analysts noted that Bank of Nova Scotia’s technical setup favored ongoing strength, with positive momentum and buyer dominance supporting a sideways-to-upward trajectory. The current combination of strong technical indicators and renewed buyer interest not only reinforces this view, but positions a breakout above C$114.58 as a key catalyst to watch for potential further upside in the near term.

Source of Data: BNS Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.