At multi-year highs: TVS Motor, Eicher among 5 stocks witness 5-year swing high breakouts
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Green Signal
In the Nifty500 pack, five stocks witnessed a 5-year swing high at the close on September 1, 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.
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.
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UNO Minda
Last 5-Year High: Rs 1301.8 | LTP: Rs 1314.6
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HBL Engineering
Last 5-Year High: Rs 835 | LTP: Rs 839.1
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4/6
TVS Motor Company
Last 5-Year High: Rs 3349 | LTP: Rs 3356.2
5/6
Nava
Last 5-Year High: Rs 710 | LTP: Rs 711.4
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Eicher Motors
Last 5-Year High: Rs 6269.5 | LTP: Rs 6280