In the Nifty500 pack, four stocks hit their 5-year swing highs at the close on October 17, indicating bullish momentum in these counters, according to StockEdge.com’s technical scan data.
A 5-year swing high marks the highest price a stock has reached within a five-year period. It often serves as a significant resistance level where the price has historically faced difficulty moving higher. Reaching this level may be viewed as a bullish signal, suggesting the potential for continued upside. However, this differs from a 5-year breakout, which occurs when a stock’s price surpasses a key resistance level that has held for five years or more.