ARNA continued lower this past week, having now dropped 24.8% from the 50.05 high. Nonetheless, the stock is now close to several downside objectives that are unlikely to be broken, especially after such a big drop in which the fundamental picture has not changed. The company reports earnings on Monday after the close and though this is a Bio-pharma stock that will not be reporting profits, it is likely the report will be more of a positive catalyst than a negative one due to the cheaper price. On an intraweek basis there is clear support from a couple of lows seen in February between 36.80 and 36.88 as well as from the inverted flag formation objective of 36.85. In addition and going back 10 years, there is weekly close support of consequence between 34.20 and 37.40, that was important on 8 different occasions during those years, meaning that without a negative catalyst it is unlikely this area will be broken. Last but not least, there is a 3 point trend line that connects on a daily closing basis at 37.82 and on an intraweek basis at 36.40. As such, purchases of the stock below 37.30 can (and should) be considered. Upside objective for the short term is anywhere between 41.92 and 45.85.

CALM generated an inside week but another red weekly close, which was exactly on the 200-week MA, currently at 44.60, suggesting that the close next Friday (red or green) will help the traders make a decision on the direction for the next few weeks. The stock has now fallen 16.9% from its recent high at 52.30, meaning that further downside could negate the last 22 weeks of trading above the MA line and put the stock in a position that a drop below 41.94 would signal a bear market. The stock has traded above the MA on 33 of the past 54 weeks, suggesting a slightly higher probability of a green close than a red close next Friday. The 200-day MA, currently at 45.65, and the most recent high at 45.75 are now levels of pivotal resistance that if broken would suggest a minor bull rally would likely be seen. Probabilities slightly favor the bears simply because the index market is likely to have a red month.

CCJ generated a positive reversal week, having made a new 9-week low but then closing in the green and on the highs of the week, suggesting further upside above last week's high at 11.21 will be seen this week. The stock reported earnings 3 weeks ago and they were better than expected but the bears were able to push down after the stock failed to make a new 6-month high above the one made 8 weeks ago at 12.19, as well as failing for the second time in the same period of time to break through the MA line, currently at 11.80, after getting up to it. Nonetheless, the bears failed to break the 13-week low at 10.30 and the buying interest returned. Resistance is found at 11.67 and then decent as well as pivotal between 12.15 and 12.19. If able to break above the 12.19/12.15 resistance area and close above the MA line, the bulls will gain control to rally the stock up to the important and long term resistance area between 13.00 and 13.59 area that would determine whether the stock has broken the long-term downtrend. Support of importance remains at 10.30. In looking at the chart, the stock should not get below 10.70 anymore. Probabilities favor the bulls.

CLB generated a positive reversal week, having made a new 17-week intraweek low but then reversing to close in the green and in the upper half of the week's trading range, suggesting further upside above last week's high at 113.13 will be seen this week. Nonetheless, the stock still closed below the 200-week MA, currently at 112.55, meaning that the reversal is not yet indicative that a bottom has been found. On a negative note, the stock remains below the 200-day MA, currently at 112.20, and has been below that line for the past 9 trading days, keeping the edge on the side of the bears. By the same token, the bears have not been able to generate follow through of consequence to the break of the line that occurred for the first time on July 23rd, meaning that the $110-$112 level remains a support level of consequence. A daily close above 112.12 or below 110.11 will likely clear up the present conundrum between the bulls and bears. The stock will likely move up or down based on what oil does and the oil chart remains inconclusive for short-term direction, trading presently in a trading range between $67 and $70. Probabilities very slightly favor the bulls for no other reason than the mid-term trend remains up.

CLF continued the uptrend based on the weekly closing chart, having generated the 3rd green weekly close since the earnings report came out. The stock closed on the highs of the week and further upside above last week's high at 10.96 is expected to be seen this week. Intraweek resistance is found at 11.44 and decent 12.37 12.37. On a short-term bullish note, any close above Friday's close at 10.88 will signal a breakout on the daily closing chart of a flag formation that offers a 13.25 upside daily close objective. The key issue facing the stock remains the 13.00 level on a weekly closing basis. That was a major low seen in 2009 and that held up until 2014 when it was broken. Since then and for the past 4 years the stock has traded below that level. As such, the probabilities strongly favor that level being tested at some point soon with that level being the main determinant as to whether the long-term downtrend is over or not. Probabilities favor the bulls this week for a rally and close next Friday at or above 11.49.

ENG continued to trade within its 9-week trading range between 1.06 and 1.47, having traded last week between 1.20 and 1.33. The stock did close on the highs of the week, suggesting further upside above last week's highs will be seen this week. The bullish flag formation remains in place that offers a 1.80 objective if the top of the flag at 1.47 gets broken. Nonetheless, there have been no changes in the fundamental outlook, suggesting more of the same as has been seen for the past 10 weeks will be seen. The company reports earnings on Wednesday August 15th and it is likely that will be the catalyst for movement. Probabilities continue to favor sideways trading this week with perhaps a slight bias to the upside.

FCEL made a new 54-week intraweek and weekly closing low closed on the low of the week, suggesting further downside below last week's low at 1.25 will be seen this week. The bears maintain control and if the minor daily close support at 1.22 gets broken there is no support until the 1.00 level is reached. The fundamental picture remains negative and with no news event scheduled or earnings report due out for at least 5 weeks, it does seem highly likely that the stock will test the 1.00 level before any recovery of consequence occurs.

FSLR generated an inside week but a green weekly close, suggesting that the negativity of the earnings report the prior week has gone away. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 54.15 is likely to be seen this week. By the same token and even though a major low at 48.00 now seems to be in place, the probabilities favor some backing and filling over the next 2-4 weeks while a bottom is fulfilled and confirmed. It is highly likely that a trading range between 50.25 and 54.50 will be seen while that backing and filling occurs. Any drops near the 50.30 should be considered for purchase. Ultimately and if a bottom is confirmed, the upside objective will be $60/$61. Probabilities favor sideways trading this week.

SN generated a negative reversal week, having made a new 6-week high and then closing in the red and on the lows of the week, suggesting further downside below last week's low at 4.39 will be seen this week. Like with CLB, the stock is dependent on what oil does and with the oil chart being unclear at this time, the outlook for the week is unclear as well. Nonetheless, the stock did generate a green weekly close, meaning that the previous week's close at 4.32 has now become the right shoulder of a bullish inverted Head & Shoulders formation, suggesting that the probabilities favor the bulls. Intraweek support is found at 4.21 and at 4.10, neither of which is likely to be broken. Pivotal resistance remains at 5.13 but a break above 4.80 is likely to give the bulls the edge. Probabilities favor more sideways trading this week.

TWNK generated a positive reversal week, having gone below last week's low and then closing above last week's high and near the highs of the week, suggesting further upside above 14.70 will be seen this week. The rally this past week also confirmed the previous week's close at 14.09 as a successful retest of the 3-point line breakout and suggests that the bulls are now in control. The company reports earnings on Tuesday after the close and the probabilities favor the report being positively catalytic. Resistance is found at 14.98 that if broken would confirm the breakout and offer a rally at least up to test the all-time high at 17.18. Nonetheless, the breakout of the 3-point trend line offers a 19.28 objective. Support is now pivotal at 13.79, meaning that the stop loss can now be raised to 13.69.