In the NSE list of stocks with a market cap over Rs 1,000 crore, seven stocks hit a 5-year swing high at the close on November 12, suggesting bullishness in these 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 key resistance point, beyond which the price has historically struggled to move. Such a move may be seen as a bullish signal, indicating potential for further upward momentum. However, it 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.