ARNA reported better than expected earnings this week but a negative reversal week occurred, having gone above the previous week's high but then closing in the red and on the lows of the week, suggesting further downside below last week's low at 35.92 will be seen this week. Intraweek support is found at 34.90 and then nothing below until 33.54 and a bit stronger at 33.00. Chart-wise, it was expected the stock would revisit the 34.90 level at some point but it was also expected that a rally back up to the 200-day MA, currently at 40.95, would happen first. The inability of the bulls to rally up to that level first is considered slightly bearish. Nonetheless, if the 34.90 level of support holds up, the bulls will get additional ammunition, as well as the needed/required retest of the recent low at 33.54. Consideration can be given to purchases around 35.00 but the probability rating is no better than 50-50. It should be stated that a weekly close (next Friday) below 35.74 would generate a new sell signal that would likely thrust the stock down to the $30 level. Probabilities favor the bears this week.

CCJ made a new 10-month intraweek high this past week but the bulls failed to confirm the breakout on the weekly closing chart, having closed on Friday below the most recent high weekly close at 12.08. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 11.31 than above last week's high at 12.78. The stock broke above the 200-week MA, currently a 11.35, for the 3rd time in the last 8 years and that is a strong positive but retesting of the line before further upside is seen is a high probability as it would confirm that this breakout will not be negated. Several rating companies did upgrade the stock after the Nov. 2nd earnings report to an objective of $16-$18, meaning that there is fundamental support to the stock. If in effect the stock goes down to test the breakout MA line, consideration should be given to adding positions. The chart is now clearly favoring the bulls for the longer term.

CLB generated a new 94-month weekly closing low but on an intraweek basis the stock went above the previous week's high and stayed above the previous week's low, suggesting the lower weekly close is not indicative of further downside. The sell pressure seen this past week was mostly due to oil dropping back down to the $60 level (down from $75) due to oversupply of oil in the market. The stock did bounce up $2 from the low on Friday and closing very slightly below the midpoint of the week's trading range, suggesting a very slightly higher probability of going below last week's low at 82.22 than above last week's high at 89.05. By the same token, the traders were awaiting news from the OPEC meeting that occurred today (Sunday) to likely make a decision whether to rally or go lower. The OPEC meeting said they would consider further oil production cuts in 2019 but that for now they would try to keep the production down to the levels that were previously agreed to, especially considering that those production levels were recently at 111% whereas they should be at only 100%. As such, the probabilities do favor oil and the stock opening higher on Monday. It should be noted that oil closed as an important pivotal chart level at the $60 demilitarized zone and any further downside on a weekly closing basis below Friday's close at 59.84 would be strong negative sign. By the same token, any intraweek break of the 58.07 level would be negative as well. The stock did close on the highs of the day on Friday and further upside above Friday's high at 85.76 is expected to be seen on Monday. If that occurs, Friday's low at 82.22 will become a successful retest of the previous 93-month low at 82.07 and would give the bulls new ammunition. Probabilities favor the bulls.

CLF generated a negative reversal week, having gone above the previous week's high and then closing in the red and on the lows of the week, suggesting further downside below last week's low at 9.72 will be seen this week. The bears failed to generate a new sell signal on the weekly closing chart, given that the stock closed on Friday at 9.83 and the previous low weekly close for the past 17 weeks is at 9.86. Nonetheless, due to the negative reversal and the multiple lows (5) between 9.42 and 9.61, the traders are likely to attempt to trigger the stop loss orders below 9.42. If that occurs, the question will then be whether further downside will continue or not. On a negative note, the chart is showing a bearish Head & Shoulders formation with the right shoulder at 11.44, the head at 13.10 and the right shoulder at 11.28. The neckline is the line between the low points seen over that period at 9.42 and at 9.61. A break of the neckline would offer a 6.12 objective. As such, this coming week seems strongly pivotal for the stock with the probabilities favoring the bears. It is important to note that the 200-week MA is currently at 6.37, suggesting that such a drop is certainly viable. By the same token, it will not be easy for the bears to generate such a scenario given that the stock in September made a new 4-year high and there has been no negative news that would support such a failure occurring. Intraweek support is found at 9.61, at 9.50 and at 9.42. Below that, the 200-day MA is currently at 9.03. Minor but short-term pivotal resistance is found at 10.42 that if broken would suggest no further downside will occur. Probabilities favor the bears but it is definitely a pivotal week in which anything can occur due to the strong support found below.

CRON generated a spike rally this past week than fizzled out, having gotten as high as 9.95 but then failing back to close in the lower half of the week's trading range, suggesting further downside below last week's low at 7.76 will be seen this week. Nonetheless, the stock did generate a second green weekly close in a row, suggesting that the recent intra-week low at 6.50 is now set as a bottom. The chart does suggest the stock could get back down to somewhere between 6.81 and 7.05 and then turn around, meaning that a successful retest of the 6.50 low will have occurred, which based on the chart is needed and required due to the fact that low was worrisome as a lot of supports were broken to achieve that low. Nonetheless and in looking at the daily chart, there is intraweek support at 7.51 and the 200-day MA is currently at 7.84, suggesting the bears may be unable to get down to the 7.00 level. If that is the case, the recovery would then be swift and strong given the volatile nature of all Cannabis stocks. Resistance remains decent at the $10 demilitarized zone and up to 10.42. A rally above that level would suggest a retest of the 15.30 high may occur and perhaps even the uptrend resume. A break below 6.81 would be seen as a decent negative. Probabilities favor the bears at the beginning of the week but the bulls for the end of the week.

ENG reported earnings this week but evidently the report did not give any new ammunition to either the bulls or the bears, given that the stock remained in the same trading range it has been in the last 13 trading days. Nonetheless and in looking at the overall chart for the past 10 years, it is evident that no news is likely to be good news for the stock given the strong support that has been built at the .80 level for many years. The stock did close on the highs of the week and further upside above last week's high at .88 is expected to be seen this week. A break above that level will offer at the very least a rally up to .93 but if that level is broken, a move up to the .96 and/or to 1.00 would likely to be seen. The 200-day MA is currently at 1.00 and as such, a confirmed close above 1.00 would likely bring in a strong short-covering rally that would suggest the stock would be moving higher during the next 3 months until the next earnings report comes out. Important and pivotal support remains at .80 that if broken would be a strong negative. Probabilities favor the bulls this week.

FSLR generated a negative reversal week, having gone above the previous week's high and then closing in the red and near the lows of the week, suggesting further downside below last week's low at 41.49 will be seen this week. Having dropped 55% in value over the past 6 months and making a new 17-month low at 36.51 3 weeks ago, a retest of that low is required and needed before new buying is seen with enough strength to target the $50 level. Any intraweek drop below 41.49 this coming week would be seen as that potential retest of the low. On a positive note, the stock did get up to the 46.05 level last week, which is a 21% rally from the lows and that strongly suggests the downtrend is over and that a major low is now in place. There is no intraweek support nearby other than psychological at $40 but on a daily closing basis there is some support at 42.25 and having closed on Friday at 42.23 it suggests that on a daily closing basis no further downside will be seen. Probabilities favor the bulls this week though some early intraweek weakness might be seen.

MCIG made a new 3-month weekly closing low on Friday but not on an intraweek basis as the previous week's low at .222 was not broken. The stock did close on the lows of the week and further downside below last week's low at .23 is expected to be seen. If the stock goes below last week's low but not below .222, a successful retest of the low will occur and will give the bulls new ammunition to take the stock higher. By the same token, a break below .219 would be a negative sign. The 200-day MA, currently at .25 is important if broken and confirmed. For the past 11 days the stock has been straddling the line but not closing above the line for 2 days in a row. If that can happen this week, it would be a sign that the stock is ready to move higher. Pivotal resistance is now found a Thursday's high at .2695. Probabilities slightly favor the bulls after a bit of early week weakness.

SLCA generated a negative reversal week, having made a new 12-day high but then going below the previous week's low and closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 13.59 will be seen this week. Nonetheless, this is another oil related stock that likely fell because oil fell and will rally if oil rallies this week. In addition, the stock had not yet retested the 8-year low at 12.89 that was made 3 weeks ago and such a retest is needed and required before the traders jump back in on the buy side. As such, if the stock gets above last week's high at 15.22, a successful retest of the low will have occurred as well as closure of the gap at 15.45 and the traders will turn around and become buyer. As long as the 12.89 low is not broken, the bulls seem to have a very slight edge. With the probabilities of oil starting to move back up, the probabilities favor the bulls this week. Closure of the gap at 15.45 would be a positive signal.