I like this bank, I personally use it and they have been around for more than 100 years I think...
I can see now why they are panicking but should they be worrying after being around for so long?
The market moves in cycles... After a crash down comes a wave up.
Anyway, the main support for the Bank Of Nova Scotia (BNS) is the Fib. retracement level at 64.95.
...
I'm not rich enough to gamble profits due to position size but I anticipate a retreat here to $87 or maybe $85 to take the heat off. What a run, what a beast. Wish I had of stuck to my dad's philosophy about Cnd bank stocks when I was getting started. "Buy them". $1 Dividend!!
Long Pros:
-GAP Fill
-Bullish Impulse
-Congestion around previous support (now resistance?)
Cons:
-Lots of real commercial / office real estate that COVID could impact.
