📊 What are the key technical indicators or recent news that could potentially reverse BNS's upward trend?

While The Bank of Nova Scotia (BNS) has shown resilience, several factors could potentially reverse its upward trend. Here are the key technical indicators and recent news to consider:

Technical Indicators:

1. **Price Momentum**: BNS's stock is currently trading below its 52-week high of $57.7, indicating a potential for further upside movement.
2. **Support and Resistance Levels**: Support is found at the $56.00 level, and resistance at $58.00. A breakout above resistance could signal a continuation of the upward trend, while a drop below support could indicate a reversal.
3. **Moving Averages**: The stock is currently trading above its 50-day and 200-day moving averages, which are $54.60 and $53.75, respectively. A drop below these averages could signal a potential reversal.

Recent News:

1. **Earnings Outlook**: BNS is scheduled to release its Q3 2025 earnings on August 26, 2025. Analysts expect an EPS of $1.73, up from $1.63 in the same quarter last year. A beat on earnings could reinforce the upward trend, while a miss could lead to a reversal.
2. **Dividend Increase and Buyback Program**: BNS recently announced a dividend increase and a 20 million share buyback program, reflecting confidence in its capital position. This could support the stock price, but a failure to execute on these commitments could lead to a reversal of investor confidence.
3. **Investment Banking Job Cuts**: BNS has cut investment banking jobs in the US and Asia-Pacific as part of a cost-cutting restructuring. While these layoffs are part of a broader trend, they could still lead to a negative perception among investors and potentially reverse the upward trend.
4. **Provisions for Credit Losses**: Despite increased provisions for credit losses, the Global Wealth Management segment showed strong growth. However, continued increases in provisions could signal underlying risks that could reverse the trend.

These technical indicators and recent news items provide a comprehensive view of the factors that could potentially reverse BNS's upward trend. Investors should monitor these closely for signs of a potential reversal.