Here are the top 4 stocks we are watching for swing trades going into the week of 2/12/2024:

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1. $LOW. Lowes Companies, Inc.

Original Analysis (2/5/2024):

Long. Stop loss: daily close below $212.84. Profit target #1: $233.83. Profit target #2: $251.61. Reasoning: Price rejected the $210 zone before launching through resistance. Price has now come back to the $210 level and confirmed support. Clear S/R flip. VPA wise we have seen the last four weeks have increasing volume as price compressed in the shadow of the massive buying candle. Price is compressing and volume is increasing. Now I am looking for expansion. This weeks candle completely engulfed the previous week and had increased volume. A+ volume and price action. Structure is bullish on both the weekly and daily. Weekly has a nice double bottom to risk off of. Risking $7 of underlying for $14-$28 reward.

Updated Analysis (2/12/2024):

Great week for $LOW. New stop is a daily close below $220.34. Price was finally able to reclaim $220 as support on Friday. I will be out if price broke below the recent higher low. I could certainly see price coming back to my stop and forming a bit of a base before breaking long later in the week. For my stop, I would like to see a decisive close below, if it is off by a few cents, I will likely evaluate whether to exit or hold depending on the price action and volume of the candle that closed below. Ideal entry long here would be the retest of $220.34 which served as previous resistance and price has now broken above. Hence, it should serve as a nice level of new support.

Updated Analysis (2/19/2024):

Gapped up Monday and has been flagging since. Stop is a daily close below the recent higher low at $225.43. I liked how price gapped above resistance and was able to hold above the level throughout the week. Interesting high volume weekly candle with a semi-small spread. Earnings are on the 27th, I am hoping for a run up into earnings with this daily flag breaking to the upside. I will then likely close this position prior to earnings.

2. $PLD. Prologis, Inc.

Original Analysis (2/5/2024):

Long. Stop loss: daily close below $126.53. Profit target #1: $146.81. Profit target #2: $157.28. Reasoning: Clear S/R flip of the ~$125 level here. Price failed to have a weekly close above the zone from Mar 23′ – Sep 23′. Price finally broke above the zone at the end of 23′. When looking at breakouts, I HAVE to see high volume breaking through the zone. Otherwise, a low volume break is always a good bet for a failed break. $PLD had massive volume pushing price past the zone it had failed for nearly half a year. Now price is back to the level. As with other trades, I need to see a confirmation of the resistance turned support. What makes it a 10/10 S/R flip is when the volume supporting the flip is increased compared to the pullback to the level. Here we see exactly that. The volume sequence was massive volume break of resistance, low volume pullback, high volume lower wick holding support on earnings, and now a high volume buying green candle. Market structure wise, price is still bearish on the weekly. Price needs to take out the recent lower low to confirm bullish structure, which I believe is likely based off the daily bullish structure. Also liking how price is bouncing off the volume profile of both the daily and weekly charts. Risking $3 of underlying for potential $11-$21 reward.

Updated Analysis (2/12/2024):

Awesome week for $PLD. Last week my stop was a daily close below $126.53. On Monday, price wicked through my stop but did not close below the level. The weekly needed to close above $130.60 to form a bullish structure, which it did. New stop is $129.09 which is the recent higher low. However, I would not like to see price close below $130.50 (area of previous resistance that price has now broken). The ideal long entry here would be $130.50.

Updated Analysis (2/19/2024):

Very interesting week. Stop coming into this week was a daily close below $129.09. The current stop is a daily close below the recent higher low at $130.50. The weekly is showing a long lower wick on increased volume. CPI dump on Tuesday was bought up on very high volume. Price has now compressed for 9 weeks now! I am looking for price expansion heading into next week. I am positioned for May here, and I am really liking the weekly look.

3. $IWM, Russell 2000

Original Analysis: (2/12/2024):

Long. Stop loss: $193.25. Proit target: $220. Weekly looks awesome here. I loved $IWM a few weeks ago, but structure was yet to put in a higher low confirming bullish structure. We saw price fill the gap and it looks like price is ready to test $220. Bullish market structure on the weekly now as price created a higher low. Volume profile showing a large volume gap in the $200-$220 zone. Stop is a close below the recent higher low at $193.25. Ideal long entry would be a retest of $199.50 if price breaks it on Monday. Otherwise, any entry between $193.25-$199.50 would be great imo.

Updated Analysis (2/19/2024):

Stop is moving from $193.25 to $194.61. I love how the weekly is looking here, high volume buying, and finding support off of the volume profile node. Looks primed for a move to $220’s. If we see $198-$199.50 again, I will likely be adding to my position. The zone I am looking to add is in the 3rd picture.

4. $TSLA: Tesla, Inc.

I entered this positon on the break and retest of $193.50 on Thursday February 15th, 2024. I am targeting $210 as that is where we see heavy resistance on the volume profile. If we happen to retest the $195 zone before heading to the $210 profit target, I am considering adding to my position barring confirmation if the zone holding as support.