Stocks achieving multi-year high breakouts and what It means for investors

A multi-year high breakout occurs when a stock surpasses a price level that it has been unable to breach for several years. This signals a major shift in market sentiment and often suggests the emergence of a new, long-term trend.

Four multi-year high-breakout stocks to keep an eye on

Symphony Ltd (Weekly Chart)

Symphony Ltd stock is currently trading at ₹1,696.50, the stock has seen a sharp up-move indicated by a sizable bullish candlestick formation marked by a circle. The stock has crossed its 5-year high and is on the back of the highest volume this week. Over the last 5 years stock price has reached a low of ₹690.70 and gained 144.63% from the same till now.

After crossing the mark of a 5-year high the next multi-year high target for the stock will be ₹2,209 which is an all-time high for the stock. The 52-week high of the stock is ₹1,748.75 and it has given 95.26% returns in the last year.

Computer Age Management Services Ltd (Weekly Chart)

Computer Age Management Services Ltd is engaged in the provision of financial and mutual fund transfer services.

India Cements Ltd (Monthly Chart)

The stock of India Cement Ltd is trading at ₹368 and given a 16-year high multi-year breakout. Stock is in an uptrend since the low made in the COVID-19 pandemic crisis. The volume bars are showing spikes as the stock is breaching its multi-year high.

The stock price had the lowest price of ₹43.05 in the last 16 years from which it has gained 754.94% till now. The stock has a 52-week low of ₹172.55 and it has given returns of 71.80% in one year.

Oil & Natural Gas Corp. Ltd (Monthly Chart)

The stock of Oil & Natural Gas Corp. Ltd is trading at ₹324.85 and has given a 10-year high multi-year breakout. Ever since the low created during the COVID-19 pandemic crisis, stock prices have been on a steady rise. Over the last three years, the average volume of trades has increased significantly as marked on the chart.

In the period of last 10 years, the stock price reached its lowest price of ₹50 and since then it has jumped 551.50% till now. The stock has a 52-week low of ₹172.80 and it has given returns of 87.48% in one year.

Conclusion

The above-mentioned stocks showed strong recoveries after a decade and reached their respective multi-year highs.