Three TSX Financials Stocks Flash Bullish Momentum
Three major TSX Financials stocks—BMO, BNS, and CM—just saw their Altra Scores jump from Neutral to Strong Bullish, signaling a potential shift.
- Visit the stock pages: BMO, BNS, CM
- Sector XFN , which ranks #1 for Relative Strength (Altra Sector score of 94.0 with bullish regime.)
The Canadian financial sector is showing signs of renewed momentum, with three major banking institutions—Bank of Montreal (BMO), Bank of Nova Scotia (BNS), and Canadian Imperial Bank of Commerce (CM)—recently transitioning into "Strong Bullish" territory based on their Altra Scores. This synchronized shift suggests a possible strengthening trend within the sector, even as the broader TSX market exhibits a more nuanced picture.
To understand these movements, it's helpful to briefly define some key terms. An Altra Score is a proprietary 0-100 momentum score for individual stocks, derived from the alignment of Exponential Moving Averages (EMAs) and the trend of the Relative Strength Index (RSI) across daily, weekly, and monthly timeframes. A higher score indicates stronger bullish momentum. The Altra Market score provides a pulse on overall market breadth, reflecting the percentage of stocks maintaining bullish momentum, while the Altra Sector score applies similar analysis at the sector level, including a relative-strength rank against other sectors.
Currently, the Altra Market score for the TSX stands at 57.5, categorized as "Improving." While the market detail suggests "Breadth improving" and advises favoring "high-quality setups," recent activity saw 22 advances against 38 declines, and the 15-day score trend has softened by -10.5 points. However, the Financials sector within the TSX presents a different narrative. With an Altra Sector score of 94.0, it is currently ranked #1 and deemed "Bullish," positioning it as a "Confirmed leader." While its Relative Strength RSI of 71.2 suggests it might be "cooling off" slightly after strong performance, its leading position remains clear. It is within this context that the individual performance of these three banks gains significance.
Bank of Montreal (BMO)
On July 30, 2026, Bank of Montreal (BMO) saw a significant shift in its momentum, with its Altra Score climbing from 56.3 (Neutral) to 83.1 (Strong Bullish). This upward trajectory has continued, with BMO's current Altra Score standing at an even higher 86.2, maintaining its "Strong Bullish" status. This robust momentum is supported by several technical indicators. BMO's price is currently positioned above its key Exponential Moving Averages (EMAs), a classic sign of an uptrend where shorter-term price averages are trading above longer-term averages. Furthermore, the stock experienced a bullish Weekly EMA Crossover on May 2, 2025, an event that often precedes sustained upward movement. The Relative Strength Index (RSI) readings reinforce this strength, with the weekly RSI at 80.69 and monthly RSI at 87.63, both indicating strong buying pressure over medium and longer timeframes, despite the daily RSI being a more moderate 54.47. The overall top-down alignment confirms that BMO's momentum is consistent across multiple timeframes.
Bank of Nova Scotia (BNS)
Bank of Nova Scotia (BNS) also demonstrated a notable shift on July 30, 2026, as its Altra Score moved from 55.2 (Neutral) to 87.6 (Strong Bullish). While its current score has adjusted slightly to 75.5, it retains a "Bullish" classification, still signaling positive momentum. Similar to BMO, BNS's price is trading above its key EMAs, and it recorded a bullish Weekly EMA Crossover on May 23, 2025. The Relative Strength Index (RSI) for BNS shows strong momentum on the weekly (74.9) and monthly (86.81) charts, even with a daily RSI of 52.67. This top-down alignment across timeframes suggests that the underlying trend remains constructive for BNS, reflecting sustained interest from market participants.
Canadian Imperial Bank of Commerce (CM)
Canadian Imperial Bank of Commerce (CM) rounds out this trio of Canadian banks displaying increased momentum. On July 30, 2026, CM's Altra Score jumped from 58.2 (Neutral) to 82.2 (Strong Bullish), and it has since settled at 82.9, firmly in "Strong Bullish" territory. This sustained strength is underpinned by its price holding above key EMAs, a clear indication of a prevailing uptrend. CM also experienced a bullish Weekly EMA Crossover on May 2, 2025, aligning with the positive shifts seen in its peers. The stock's Relative Strength Index (RSI) readings are particularly strong on the monthly timeframe at 90.62, with the weekly at 70.95, while the daily RSI is 53.8. The consistent top-down alignment across these timeframes further supports the view of strong, multi-timeframe momentum for CM.
The collective move of BMO, BNS, and CM into bullish Altra Score categories highlights a period of increasing momentum for these key players within the TSX Financials sector. While the broader market displays more mixed signals, the leading position of the Financials sector combined with the synchronized bullish shifts in these individual stocks suggests a potential area of strength that active traders and investors may find noteworthy.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.