20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Bank of Nova Scotia (Scotiabank) (NYSE:BNS) shares are trading lower after the company reported worse-than-expected Q1 earnings.
What Happened: On Tuesday, Scotiabank reported its first quarter results for the period that ended Jan. 31, 2023.
Scotiabank reported quarterly earnings of $1.34 per share compared to the analyst consensus estimate of $1.49, representing a negative earnings surprise of 10.1% and a decrease of 21.2% from the same period last year. The company reported quarterly sales of $5.94 billion compared to the analyst consensus estimate of $6.06 billion, representing a 6.51% decrease from the same period last year.
Scott Thomson, President and CEO of Scotiabank, said "The Bank's performance in the first quarter of 2023 reflects both the merits of a diversified platform and also the continued relative pressure on our profitability given our funding profile.”
Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other.
According to data from Benzinga Pro, Scotiabank shares were down 5.01%, trading at $50.07 at the time of publication. The stock has a 52-week high of $74.82 and a 52-week low of $45.26.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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