return to news
  1. Stocks achieving multi-year high breakouts and what It means for investors

Market News

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

Upstox

3 min read | Updated on August 08, 2024, 20:03 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

This article highlights four stocks that have achieved multi-year high breakout. A multi-year breakout occurs when the stock price moves above a resistance level that has held firm for several years.

Stocks Achieving Multi-year High Breakouts and What It Means for Investors

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)

unnamed.webp
Symphony Ltd operates as a holding company, which manufactures and markets residential, commercial and industrial air coolers.

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)

unnamed_1.webp

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

Computer Age Management Services Ltd is currently trading at ₹4,320.85 in an uptrend supported by good volume. The stock price has formed a perfect rounding pattern. During the last 4 years, the stock made a low of ₹2,010 and since then it has given returns of 114.49% till now. The stock is trading near an all-time high and it has given returns of 81.80% in one year.

India Cements Ltd (Monthly Chart)

unnamed_2.webp
India Cements Ltd is a holding company, engaged in the manufacture and sale of cement and clinker. It operates through the brands like Sankar Super Power, Coromandel King, and Raasi Gold.

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)

unnamed_3.webp
Oil & Natural Gas Corp Ltd is in the exploration, development, and production of crude oil, natural gas, and value-added products.

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.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story