ARNA had an uneventful week, having traded once again between the 43.00 and 45.35 trading range that has been seen over the past 3 weeks. Once again, the stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher possibility of going below last week's low at 43.05 than above last week's high at 45.00. By the same token, the formation presently in place (inverted flag formation) suggests the outcome will be to the downside with a 36.80 objective. Pivotal resistance is found at 45.85 and pivotal support at 41.50. Probabilities slightly favor the bears.

CCJ generated a positive reversal week, having made a new 6-week low and then closing in the green, on the highs of the week, and above the previous week's high, suggesting further upside above last week's high at 11.20 will be seen this week. Minor resistance is found at 11.39 and minor to perhaps decent at 11.68. Above that level, there is minor to perhaps decent resistance at 11.91 that is further strengthened by the 200-week MA, currently at 11.86. Support is now found at 10.52 and 10.31. The stock got up to the MA line in June for the first time in 4 years and expectedly so was turned back. It is highly likely that on this occasion the line will be visited again and though the probabilities do not favor the line getting broken, there will be a higher probability of it getting broken than the previous time, especially since the company reports earnings on Wednesday after the market close and that could have a catalytic effect on the stock. Probabilities favor the bulls.

CLF reported earnings and they were much better than expected ($.73 vs expected $.52) and the stock made a new 17-month high and in a spike-up manner, as well as closing on the highs of the week, suggesting further upside above last week's high at 10.38 will be seen this week. Minor to perhaps decent resistance is found at 10.90 and decent as well as mid-term pivotal at 12.37. On a daily closing basis, support will now be decent at 9.00. The spike up suggests that this week the stock will continue higher up to at least the 10.90 level but more likely up to the 46-month high at 12.37. The stock has now spent the last 4 months above the 200-week MA, currently at 6.20, meaning that the long term downtrend is broken and that a sideways to now possibly up trend is in place. The probabilities do suggest that the 12.37 level will be tested and broken on this attempt and that a rally up to the 13.00 level will occur. The $13 level is an important previous low weekly close from 2009 that stood up for 5 years before getting broken to the downside in 2014. A weekly close above that level would mean that the stock is ready to start a new uptrend of consequence with $27-$30 as the objective. Weekly close resistance is found at 9.93, a bit stronger at 11.17 and decent as well as long term pivotal at 11.49. A red weekly close next Friday would slightly and short-term weaken the chart. It is doubtful that the $13 area will be broken the first time it is seen but that level is definitely the objective of this move.

ENG continued to trade within its 8-week trading range between 1.06 and 1.47, having traded last week between 1.23 and 1.32. The stock did close on the highs of the week, suggesting further upside above last week's high at 1.32 will be seen this week. The 200-week MA is now down to 1.37, suggesting that if the stock goes above last week's high that a break of that line could occur at the end of the week. A weekly close above 1.40 would also break a decent double top resistance that has been in place for the past 14-months and suggest that a strong recovery rally would occur with 1.75 as the first and bull flag objective but likely with the 5-point 10-year downtrend line, currently at 2.44, as the overall objective. . The company reports earnings in 2 weeks and the earnings report is likely to be a positive catalyst for a breakout, given the 6 months of strong base building that occurred between October and April. Weekly close support is found at 1.14 that if broken would negate the positive outlook. Probabilities favor the bulls.

FCEL made a new 15-trading day high and closed near the high of the week, suggesting further upside above last week's high at 1.46 will be seen this week. The new high and mini bullish flag that was built on the daily chart this week, suggests that the stock may have built a bottom and that some recovery may be on the horizon. The mini bullish flag offers a 1.55 upside objective. By the same token, the bulls need to generate a weekly close above 1.65 to negate the weakness seen since the earnings report came out and that is still a very low possibility, meaning that the stock is likely to continue to trade sideways for the next 4-6 weeks between 1.30 and perhaps 1.65. Probabilities favor the bulls this week but just for a mini rally.

FSLR remains in a directionless trading range as the traders await the earnings report that comes out on Thursday after close. The chart formation favors the bears for further downside but the fundamentals support the bulls for continuation of the recent sideways trend or for a recovery rally to occur. There is a double high resistance at 55.70/55.75 that if broken would suggest a rally up to the recent weekly close breakdown point at 61.23 that is further strengthened by the 50-week MA, currently at 61.10. Weekly close support is found at 50.23 that if broken a minimum drop down to 48.50 would be seen and open the door for potential drops all the way down to the $43-$45 area. Earnings are expected to come in at -$.03 cents compared to a year ago at +$.64 cents. Common sense would suggest earnings will be better than expected, suggesting a rally up to the $61 is the most probably outcome.

TWNK made a new 13-week high and closed slightly above the 3-point downtrend line, currently at 14.33, that has been in place for the past 14-months. The stock closed on the highs of the week and further upside above last week's high at 14.43 is expected to be seen this week. Minor resistance is found at 14.89 and decent as well as pivotal at 14.98. The downtrend line had never been broken, not even on an intraweek basis, meaning that if follow through to the upside is seen this week that it could well be a tangible sign that the downtrend is over. The stock is showing a triangle formation that if confirmed broken (a rally above 14.98) would offer a 19.29 upside objective which would be a new all-time high above the present one at 17.18. The stock reports earnings either on August 7th or August 14th. A red weekly close next week would mean the breakout would be negated. Intraweek support is now found at 14.09 that if broken would shift the probabilities back to the bears. Probabilities presently favor the bulls.