The Top Stocks of July

July is in the books and there are some fresh trends brewing beneath the surface. 

The tech and growth trade has led the market off the April lows, but recent evidence suggests this theme is cooling. 

Meanwhile, we’re seeing new leadership emerge from forgotten areas such as utilities and commodities. 

We run a variety of scans at the end of each month to help us analyze what happened… and more importantly, what’s likely to happen next. 

We figure we might as well share some of that with our readers, so here it is. 

These are the Top Stocks of the Month of July. 

This scan offers a quick and dirty look at the best and most consistent outperformers during the calendar month. 

We’re tracking the frequency of outperformance in the number of days column (how many days did the stock beat the average during the month), and the magnitude of outperformance in the next one. 

The performance vs SPY column is simply the margin of outperformance, or alpha, relative to the S&P 500. Then this is expressed with a letter grade in the last column. 

So, how often did this stock beat the market in the past month… and by how much?

It’s really that simple. 

This month’s list is packed with solid leadership names and actionable setups. Let’s take a look at our favorites. 

First is Warner Bros Media, parent company to brands like HBO and Discovery:

WBD has been carving out a deep reversal base in both absolute and relative terms.

If we're above 13, I like it long with a target of 22.

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