At multi-year highs: These 6 stocks witness 5-year swing high breakout
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On a high
In the NSE list of stocks with a market cap over Rs 1000 crore, six stocks witnessed a 5-year swing high at the close on July 3, suggesting bullishness in 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 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.
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.
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Aster DM Healthcare
Last 5-Year High: Rs 609.5 | LTP: Rs 650.05
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NACL Industries
Last 5-Year High: Rs 240.74 | LTP: Rs 252.77
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DCM Shriram
Last 5-Year High: Rs 1371.1 | LTP: Rs 1425.5
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AB Infrabuild
Last 5-Year High: Rs 166 | LTP: Rs 166.99
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Affle 3i
Last 5-Year High: Rs 2040 | LTP: Rs 2044.8
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Sharda Cropchem
Last 5-Year High: Rs 886.6 | LTP: Rs 886.9