At multi-year highs: These 5 stocks witnessed 5-year swing high breakouts – Bullish Sign

In the NSE list of stocks with a market cap over Rs 1000 crore, three stocks witnessed a 5-year swing high at the close on April 29, suggesting bullishness in counters, according to stockedge.com’s technical scan data.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock. However, it’s worth noting that this is different from a 5-year breakout, which occurs when a stock’s price surpasses a key resistance level that has held for five years or longer.

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