Scotiabank stock price forecast: C$115.18 resistance as BNS trades flat

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Scotiabank rises 0.15% today on AI push

Highlights

Scotiabank's launch of advanced AI and planned acquisition of MapleMark Bank target operational efficiency and North American mortgage market growth.
The bank posted a 5% year-over-year rise in net interest income and increased its dividend, underscoring strong balance sheet management.
BNS/CAD exhibits sustained bullish momentum with overbought technical signals, trading within a C$112.82–C$115.18 range and a high probability of an upward breakout.

Technological expansion and acquisition drive investor demand amid strong results

Scotiabank's rollout of advanced artificial intelligence capabilities through Scotia Intelligence marks a significant upgrade in its technological infrastructure, aiming to improve client experience, operational efficiency, and risk management. This innovation is accompanied by a definitive agreement to acquire Maple Financial Holdings, parent of MapleMark Bank, which is set to bolster the bank's North American strategy and expand its Mortgage Capital Markets business once regulatory approvals are secured. Strong quarterly results, including a 5% year-over-year increase in net interest income and a higher dividend payout, further support demand for BNS shares amid the bank's emphasis on balance sheet strength and a conservative risk profile.

Uptrend strength confirmed as technical barriers clear and momentum remains robust

Technically, BNS/CAD has cleared the MA-20 at C$113.11 and MA-50 at C$112.09 on the hourly chart, and continues to hold well above the long-term MA-200 at C$98.25, with the Ichimoku Kijun providing immediate support at C$113.27. MACD and ADX remain in buy territory, while oscillators show overbought signals: RSI at 64.63, Stoch RSI on Buy, CCI in overbought range, and BBP indicating buyer dominance. Awesome Oscillator is neutral. Price action shows low volatility with no significant divergence between oscillators and momentum signals.

Breakout prospects rise as range narrows with persistent buyer dominance

In the short term, BNS/CAD is expected to trade within a range of C$112.82 to C$115.18 over the next two to three trading days, consistent with typical volatility. The likelihood of an upward move toward the upper end of this range is very high, with buyer enthusiasm remaining elevated. Should bullish sentiment persist, a breakout above resistance is possible, while a move below support could suggest the start of a retracement.

Anton Kharitonov, expert at Traders Union, sees Scotiabank showing technical resilience above key averages while recent news on AI expansion and acquisition plans keep sentiment supportive. He believes fundamentals remain solid, but overbought signals and high buyer enthusiasm warrant caution given low volatility and potential for retracement. The next two to three sessions are likely to see the price test the upper range unless sentiment shifts. "Until C$112.82 is breached, I would stay defensive and wait for a clearer setup before committing to new positions."

Earlier, analysts noted that Bank of Nova Scotia displayed robust bullish momentum, with technical indicators pointing to buyer dominance but also signaling overbought conditions. The latest developments—highlighted by continued price resilience above major moving averages, strategic acquisitions, and strong operating results—strengthen this positive outlook, making any decisive break above current resistance a key level to watch for traders assessing near-term upside potential.

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.