Here are the top 7 stocks we are watching for swing trades going into the week of 1/29/2024:

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1. $SOFI. SoFi Technologies, Inc.

$SOFI SoFi Technologies, Inc. Just want to disclaim that earnings are Monday (1/29), and this is a riskier play because of it. Please position size appropriately. With that being said, I really like how $SOFI is positioning into the rest of the year. On the 3M timeframe we’ve establish a nice higher low and have a nice looking 1 1/2 year base. The previous 3M candle flipped previous resistance to support. On the monthly, we have a nice example of 3 candles that are VPA anomalies. Check out the note explaining more on the monthly chart posted. Price then had a bullish engulfing monthly candle on above average volume. Now price is back to support retesting the breakout. Moving onto the weekly, we see massive buying volume coming in and then a 4 week pullback with this last week having the most volume. Notice how the buying volume was significantly higher than the sell-off back to demand. Also notice how the last breakout paired with an extremely bearish candle on high volume to stop the breakout from continuing. We do not see that this time. We see a low volume sell-off. As for this week candle, the volume is not suprising with where price is and the earnings forthcoming Monday. I will note that inverted hammer candles back to demand are bullish, not bearish. This can be confusing but its the same way a hammer candle in supply is actually bearish. It signals sellers (or buyers) make the long wick to push price back down or up. This usually signifies sellers or buyers becoming weak in the short term trend. Anyways, I am positioned in LEAPS for 2025 at the $5 strike. I thought this would give me enough time to see the majority of the move if I am right, and play some losing management if I am wrong.

2. $W. Wayfair, Inc.

$W Wayfair, Inc. To start with the 3M candle, we see a nice base with massive volume coming in. The recent 3M close flipped resistance to support on above average volume. On the monthly, price took a crack at resistance and failed. Price then recovered to put in a higher low on above average volume signaling bullish structure. The weekly is showing clear spikes in buying volume. The selling pullback was pathetic compared the the buying volume coming in. The only hesitation I had on this chart was unconfirmed bullish structure. I am looking for price to make a higher low or double bottom next week. I could certainly see price making a double bottom (near $50) next week and fully filling the gap below before continuing higher. However, the daily structure looks primed for takeoff. FOMO won here and I may pay for it next week, but that is why I enjoy buying time and capturing large moves.

3. $UPST. UpStart Holdings, Inc.

$UPST Upstart Holdings, Inc. Very similar to $SOFI here. Nice 1 1/2 year base looking to breakout after the stock got destroyed. 3M put in a higher low last candle close. Monthly had a nice bullish engulfing candle close and price is coming back to support. The selling volume as price came back to support was noticeably low possibly signaling seller exhaustion in that price area. The weekly saw massive buying volume coming in, and unlike the last time price reversed, there was insignificant volume on the pullback. This week we saw an inverted hammer candle on high volume. Weekly structure is still bullish as we have yet to put in a higher low or lower higher. Liking daily structure as price is tying to form an inverted head and shoulders pattern.

4. $EL Estee Lauder Companies, Inc.

$EL Estee Lauder Companies, Inc. And a sample of $ULTA and $ELF. Choosing $EL here because of the favorable r/r and $ULTA was too expensive . Anyways, the 3M candle close is literally the definition of a trend reversal. Check out the massive volume and long lower wick. On the monthly we see a massive volume green candle. Price is now retesting the high of said candle. On the weekly structure is bullish as price put in a higher low this week. There was a great VPA example which I notated on the weekly chart. The daily looks great as well as structure has shifted bullish again as price put in a double bottom. I am choosing $EL here, but I am also liking $ELF and $ULTA. Pretty sure $ELF is reporting earnings soon so watch out for that.

5. $LVS. Las Vegas Sands, Corp.

$LVS Las Vegas Sands Corp. On the monthly we see a great example of why I look at structure. Check out the head and shoulders, and now bullish double bottom market structure. $LVS reported earnings this week and closed green while holding the daily POC. This has bullish structure written all over the monthly, weekly, and daily. Decent volume gap on the volume profile on this one. Awesome S/R flip on the weekly which provides a nice risk off of level.

6. $XLE. Energy S&P 500 ETF.

$XLE Energy Sector. I know. But I would be remiss to ignore a trade I was early / wrong on. Great week across the board for the holdings of $XLE. Weekly bullish engulfing as price reclaimed the false breakdown level on above average volume. The monthly is trying to close green next week to put in a higher low confirming bullish structure. On the weekly, price needs to close above the recent lower highs to create bullish structure ($85) next week. I could see price creating some sort of higher low on the weekly next week by having a small red candle before continuing higher the following week. As a note, I found the current $XLE chart to be similar to what $SPY looked like when the rally started. We saw two high volume candles showing a breakdown, and then followed by an aggressive bullish weekly engulfing candle. I attached an image of what $SPY looked like so you can also compare it to $XLE. As another side note, seasonally February is the most bullish month for energy.

7. $PATH. UiPath, Inc.

$PATH UiPath Inc. Admittedly, this is a bit far from the typical execution level I like. After reviewing and annotating a bit, I didn’t love this one as much as before. I would like price to come down farther, but I am not sure it will. On the 3M, we see price break resistance on high volume. The monthly candle shows a gap up on the chart with extremely high associated volume. Price has nearly filled the gap on the monthly, but not fully, which I don’t love. On the weekly, the influx of buying volume is very significant. Price is attempting to flip previous resistance to support. The buying volume that put in the higher low was miniscule, but there were clear signs of VPA anomalies as spreads decreased and volume increased. I am going to be a bit more weary of the daily chart on this one, as it is a bit farther from levels that I would like to risk off of. A daily close below $22.25 would invalidate the inverted head and shoulders look the daily is given. If $22.25 is lost as price CLOSES below, then I will look to re-enter later. Nevertheless, trying $PATH because of the daily look. If price invalidates this thesis, I may salivate at the new long opportunity it brings.