At multi-year highs: 4 stocks witness 5-year swing high breakouts

In the Nifty500 pack, we’ve compiled a list of four stocks that reached a 5-year swing high at the close on November 6, signaling potential bullishness, according to technical scan data from StockEdge.com. Take a look.

A 5-year swing high represents a stock's highest price within the past five years. This level acts as a significant resistance point, where the price has historically struggled to break through. When this occurs, it may be seen as a bullish signal, suggesting the potential for further upward movement. However, it’s important to distinguish this from a 5-year breakout, which happens when a stock’s price surpasses a key resistance level that has held for five years or more.