ARNA generated a new 5-month intraweek and weekly closing low but did reach the important 200-day line, currently at 50.10, with a low last week at 49.18 and a bounce thereafter that took the stock above the previous week's high. The stock did close red and slightly in the lower half of the week's trading range, suggesting further downside below that low will be seen this week. Nonetheless, the more important previous multi-year weekly closing high is at 50.93 and if a green close occurs this Friday, a successful retest of that breakout level will have occurred, which in turn would highly likely give new ammunition to the bulls for a rally and an end to this recent downtrend. As such, a drop below last week's low is improbable this week. A drop down to the $50 demilitarized zone and a retest of the MA line is highly probable but even though the stock closed in the lower half of the week's trading range, it is unlikely that new lows to this downtrend will be seen, though if it happens would not necessarily be a negative. Pivotal resistance is now found at last week's high at 53.95 that is broken would open the door for a rally to 58.00 which is where resistance is found. Probabilities favor the bulls.

AU generated another spike-down drop and a red close on the low of the week, suggesting further downside below last week's low at 18.81 will be seen this week. The stock has now fallen 21.2% from the high and if the bull outlook is to remain, the bulls are required to generate a green close above 19.08 next Friday or the 20+% drop from the high will do some lasting damage. The stock shows intraweek support at 18.58 that should not be broken unless the trend has begun to change back to a bear one. Gold was also weak last week and did close slightly below the pivotal $1500 level (closed at $1496) but the bears were not able to break the intraweek support at $1488, suggesting that level will be seen this week but not broken. This correction was expected to happen at some point as the stock had previously rallied 53% in value without any correction. Nonetheless, this is the area the bulls need to defend, making this coming week pivotal. Below 18.58 there is further support at 16.82 that is stronger and more important. Nonetheless, a break below 18.58 would suggest the recent high at 23.85 is a resistance that is unlikely to be broken in the short-to-mid term. As such, it is indicative in that way. Intraweek resistance is now found at last week's high at 21.26. That level is unlikely to be broken this coming week but if a green weekly close is seen next Friday, the following week a rally to that level would likely be seen. Probabilities slightly favor the bulls.

COF made a new 4-week high and closed near the high of the week, suggesting further upside above last week's high at 88.90 will be seen this week. More importantly, the stock has established itself above the 200-day MA, currently at 85.75, having closed above that line on both Thursday and Friday. Nonetheless, the chart is not yet all rosy for the bulls given that Friday's rally was a spike up with a close on the high of the week and Friday there was no follow through, having had an inside day and a red close on the low of the day. In addition, the stock is showing an open gap between 86.47 and 86.82 that is not supported with news and likely to be closed before any further upside will occur. Nonetheless, the chart suggests that the bulls now have the edge and other than minor resistance found at 89.47, there is no resistance of any consequence until 91.60, meaning that if the gap is closed, careful consideration should be given to covering the short positions and taking the small loss, unless some unexpected weakness is seen in the index market. Intraweek support is found between 85.36 and 85.72 that includes the 200-day MA. If that support is broken, a new evaluation can be made. At this time, covering of the shorts should be made if that area is reached.

CRON generated an uneventful inside week and a close in the middle of the week's trading range, giving no clear clue as to what to expect this week. Nontheless, the stock did close on the high of the day on Friday, suggesting the first course of action for the week will be to the upside and given that the recent weekly closing low at 11.02 is now an established low (2 weeks in a row closing above that level), the probabilities slightly favor the bulls. Pivotal resistance is found at 12.41 and pivotal support at 10.58. There is an open gap between 12.87 and 13.07 that is likely to be targeted this week with the question being whether the gap will be closed or not. Closure of the gap would be a positive while the opposite is also true. A weekly close above 14.08 would erase all the weakness seen the past 7 weeks but is unlike to occur at this time, meaning that the possibilities suggest the stock might be in a trading range between $11 and $13 for the next 3-6 week. Important support remains at the $10 demilitarized zone. Probabilities favor the bulls this week but only as far as a rally to the 12.90 level.

ENG has been idling for the past 2 weeks and doing nothing. There was no follow through after last week's green close and in the upper half of the week's trading range, suggesting the traders are waiting for direction (perhaps from the overall market). Nonetheless, the stock remains in a short-term bullish pattern and as long as the $1 level is not broken on a weekly closing basis, probabilities favor the bulls. There is some very minor weekly close support at 1.04 and then minor to decent at the .99/1.00 level that at this time should not be broken on a weekly closing basis. The action seen has not been unexpected given that 6 weeks ago the stock got up to the 200-week MA at 1.16 and so far the bulls have not been strong enough to make the bullish statement that is likely to come in the not too distant future. For now and before another attempt at breaking that long term MA, it is likely that the bulls will need to retest and even strengthen the support at the $1 level. Intraweek support of consequence is found between .97 and 1.00 and short-term pivotal resistance is found at 1.18. Probabilities favor the stock trading in the range for the next 2-3 weeks.

FNV generated a sell signal on the daily closing chart, having closed below the most recent and established low daily close at 92.27. The stock closed on the lows of the week and further downside below last week's low at 89.46 is expected to be seen this week. The stock has now corrected 12% from the recent high at 101.19 but that is after a 46% rally seen over a 5 month period between April and September. Nonetheless, the weakness seen has opened the door for further downside with the previous all-time weekly closing high at 84.45 as a potential objective. There is intraweek support at 85.44 that has a high probability of holding up. Pivotal resistance is now found at 96.49 that if broken would negate the correction. Gold is the main factor for the stock and Gold is at an important support area at $1488. If gold holds up, the stock is likely to do the same. Probabilities favor the bears.

MDT generated a positive reversal week, having gone below the previous week's low and then making a new intraweek and weekly closing high. The stock closed in the upper half of the week's trading range and further upside above last week's high at 111.24 is expected to be seen. In addition, the stock broke out of a bullish flag formation that offers an upside objective of 114.62 to be reached by Tuesday, if an when the bull flag is respected. On a possible negative note, the stock generated a red day on Friday and a close near the low of the day, suggesting the first course of business for the week is likely to be to the downside below Friday's low at 109.30 and if the bears can accomplish a daily close below 108.69 (previous all-time high daily close), the bullish flag will be negated. Probabilities strongly favor the bulls.

SRUTF generated a negative reversal week, having gone above last week's high and then closing below last week's low, suggesting further downside and continuation of the downtrend is the most probable scenario. Nonetheless and using the intraweek chart, this move down could be simply a required/needed retest of the recent 7-month low at .274 and if that is the case and the stock then rallies above last week's high at .342, a successful retest of the low will have occurred and a new buy signal given. There is quite a bit of decent intraweek support between .266 and .282 as that level held up strongly for 2 months at the beginning of the year. In the entire history of the company which spans 60 weeks, never before has the stock suffered 5 red weekly closes in a row. There has been no negative news for the company other than the general malaise affecting the Canadian Cannabis industry and this is not one of the companies that is at risk of a balloon loan payment coming up soon, suggesting the probabilities favor a positive result at the end of the week.