热点追踪周报：由创新高个股看市场投资热点（第 218 期）-20251107

• The report tracks stocks, industries, and sectors that have reached new highs, which can be seen as market indicators. It highlights the effectiveness of momentum and trend-following strategies[11] - The report uses the 250-day high distance to represent new highs, calculated as follows: $ 250 \text{ day high distance} = 1 - \frac{Closet}{ts_max(Close, 250)} $ where Closet is the latest closing price, and ts_max(Close, 250) is the maximum closing price over the past 250 trading days[11] - As of November 7, 2025, the 250-day high distances for major indices are: Shanghai Composite Index 0.47%, Shenzhen Component Index 2.34%, CSI 300 1.45%, CSI 500 2.93%, CSI 1000 1.39%, CSI 2000 1.36%, ChiNext Index 3.49%, and STAR 50 Index 8.02%[12][13] - The report identifies 1018 stocks that reached new 250-day highs in the past 20 trading days, with the highest numbers in the machinery, basic chemicals, and electronics industries[19] - The highest proportions of new high stocks are in the coal, non-ferrous metals, and steel industries[19] - The report tracks "stable new high" stocks based on analyst attention, relative strength, trend continuity, price path stability, and new high sustainability[27] - The screening criteria for stable new high stocks include: - Analyst attention: At least 5 buy or hold ratings in the past 3 months - Relative strength: Top 20% in market performance over the past 250 days - Price stability: Evaluated using the absolute value of price changes over the past 120 days and the sum of absolute daily price changes over the past 120 days[27] - The report lists 50 stable new high stocks, with the highest numbers in the cyclical and technology sectors[28]