These stocks are breaking the ceiling in NEPSE with their 52-week high

With the rise in turnover and points gained every single day, NEPSE seems to be on a bullish advance.

Just today, NEPSE has closed above 1,700 for the first time in three years and seven months. The market opened at 1,681.82 in the morning. While the lowest point was 1,681.82, the market-close itself is the intraday high.

With this, NEPSE has closed above 1,700 level after three years and seven months. The last time that the index closed above 1,700 was on 12th April 2017. The overall market was bearish since then.

The NEPSE index gained 28.89 points today with the fifth-highest turnover in history. 

The index reflects a weighted impact of what the individual stocks do. Thus, there are numerous scrips that are at their 52-week high. Furthermore, some have even broken the ceiling and created a new 52-week high with their current price level.

These are the stocks that are near their 52-weeks high:

One can see that some scrips on this list have also created a new high with their current price. Below is the list of such companies. 

How to Interpret This 

The stock price of a company is below a high until it breaks it and forms a new high. Highs and lows are always of interest to an investor. This is because, when a stock is at its high or low, it can bounce back and follow its usual course. Or, it can break-away from that level and ultimately create a new benchmark. This process is always accompanied by the formation of a new high or low. 

This is also why support and resistance breakouts are taken with such concern by chart analysts.