In the Nifty500 pack, five stocks recorded a 5-year swing high at the close on October 21, suggesting bullishness, 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 prices have historically struggled to move beyond. It may be seen as a bullish signal, indicating potential further upward movement. 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.