Here are the top 4 stocks we are watching for swing trades going into the week of 3/11/2024:

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1. $COP. ConocoPhillips

Original Analysis (3/11/2024):

Long. Stop loss: Close below $111.72. One of my favorite looking setups heading into the week I had to share today. Price is forming a wedge within a wedge and volume is rising. This can break to either side, but I am leaning towards this breaking to the upside. I gave some VPA annotations in the first chart to explain why I have a long bias. We continually see high volume buying candles within the wedge that are followed by low volume sell-offs. The 9, 21, and 50 EMA are all coiled beneath the close on Friday. Price is coiling on the weekly, and with relative strength in XLE (energy sector), I am leaning towards an upside break. I think a confirmation long above $113.43 would be a good spot to risk off of. Below $111.49 and I think we see downside

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.

Updated Analysis (2/26/2024):

Stop is still a close below $130.50. I thought last week would be the beginning of the breakout here. But the rest of the real estate sector and $PLD wasn’t ready. I reduced some risk Friday by closing some small profits, but I am happy to welcome a short-term drop in price. $130.50 is the big level here. Large accumulation on both the daily and weekly VP. Up until the close on Friday, $PLD looked to be forming an ascending triangle and setting up for the breakout. Price broke above the triangle, double topped, and quickly looked like a failed breakout rising wedge. This is a FANTASTIC example of a fake breakout on the hourly. Nevertheless, I am looking for price to fall to demand around $130.50 and form bullish structure on the 4HR and 1HR to re-add risk on $PLD.

Updated Analysis 3/4/2024:

The rest of the real estate sector now looks ready. I am extemely bullish on $PLD in both the short and long term. Check the charts of $EQIX, $CCI, $AMT.

Updated Analysis 3/11/2024:

Is this the breakout? I sure hope so, lol. It has been a long time coming, but I think $PLD is ready this week.

3. $WELL, Welltower Inc.

Long. Stop loss: $91.53. Real estate name here, and with the sector looking good, I’ll be looking for upside only here. On the monthly, February closed as a bullish engulfing candle on increased volume which is A+ bullish VPA. The weekly is retesting the break of $92. On the daily, price has had three consecutive inside candles on increasing volume. Price is compressing, now we’re looking for the expansion. I’m watching for a break above $93 as confirmation here. Not watching for downside.

4. $GIS. General Mills.

Long. Weekly retested the downtrend and created a higher low on increased buying volume = bullish. The daily saw massive buying volume on Feb 16th and 20th and price has been trading within the spreads of those two candles since. Price recently broke from the bull flag it was forming and came back to retest demand. The daily buying volume looks great here. EMA’s are coiled and price closed just above the VP POC on Friday. Above $65.56 and I am in long barring some egregious gap up.