In the NSE list of stocks with a market cap above Rs 1,000 crore, five stocks hit a 5-year swing high at the close on October 9, signaling 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 period. This level often acts as a key resistance point where prices have historically struggled to move higher. Such an occurrence is generally seen as a bullish signal, suggesting potential for further upward movement. However, it differs from a 5-year breakout, which happens when a stock’s price surpasses a resistance level that has held for five years or more.