On a highIn the Nifty200 pack, we have collated a list of five stocks that witnessed a 5-year swing high at the close on May 08, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look. 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.

Source: Economic Times May 09, 2024 03:00 UTC