Despite being in the thick of what is historically the strongest three-month period for stocks, heightened volatility has been the story.
The resulting whipsaws have frustrated both bears and bulls, and sustained momentum has been hard to come by.
Most breakouts have failed, and the same is true for breakdowns. Sloppy times.
However, the market staged a significant comeback starting last week, narrowly finishing the month in positive territory.
The recent action puts the prospect of a year-end rally back on the table in a big way.
Given the messy trading action during the month, it is especially important to identify those stocks that demonstrated relative strength through the volatility.
Here are the Top Stocks for the Month of November.
This scan gives us a clean, no-nonsense read on the strongest and most consistent outperformers of the month.
We’re tracking just two things: how often a stock outperformed, and by how much.
In other words, we want to know how frequently a stock beats the market — as well as the magnitude of its outperformance. Simple as that.
Here is Universal Health Services $UHS:
Universal Health is revisiting a key resistance level around 243, right at last year’s highs. This area marks a logical place to define risk and buy a potential breakout.
While some consolidation at this level is likely in the short term, there’s no reason to think the stock won’t push through and embark on a fresh leg higher.
We want to buy on strength above 243, targeting 334.
Our team runs scans like this every day in order to identify and capitalize on the strongest market trends.
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