AU generated a positive reversal week, having made a 3-month intraweek low at 18.12 and then closing green and near the high of the week, suggesting further upside above last week's high at 19.20 is expected to be seen this week. The stock did have decent and well established support in this area with intraweek support at 18.04 and weekly close support at 18.77 and both of those were tested successfully the past 2 weeks, meaning that the bears need new fundamental negatives to take the stock down further. As such, the next couple of weeks should be a period of recovery. By the same token, the short-term bullish picture that was in place some 5 weeks ago has changed and been replaced with a sideways market that is not likely to accomplish anything bullish of note to the upside. The upside objective of this recovery period is the 24.00 level and reaching that level could take anywhere from 3-6 weeks. The first level the bulls have to get above is the $20 demilitarized zone (based on a daily close). There is established daily close resistance at 19.87. Probabilities are high that level will be reached this week, though not likely more than that. Intraweek support remains at 18.04/18.12, which based on what happened this past week should not be reached and much less broken. Probabilities favor the bulls this week. Probabilities favor the bulls for another green weekly close next Friday.

BTZI continued to show weakness as another new 5-month intraweek and weekly closing low occurred. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at .043 will be seen this week. The next level of established intraweek support is found between .036 and .037 (.0394 on a weekly closing basis). Pivotal intraweek resistance is now found at .055 (.0545 on a weekly closing basis). It is important to note that Bitcoin did generate a positive reversal week and a close in the upper half of the week's trading range, meaning that some recovery should be seen this week and that is likely to help BTZI. It is evident that at this time and with the failure signal against the bulls given the previous week, the stock is now likely to trade sideways with perhaps a very slight bearish tinge. By the same token, some recovery back up to the .055 level is likely to occur over the next couple of weeks. Probabilities slightly favor the bulls this week.

CNX generated an uneventful inside week but the stock did close near the low of the week, suggesting further downside below last week's low at 13.31 will be seen this week. The stock has been a total "yo-yo" for the past 14 weeks with the traders at a loss to generate any clear direction. Nonetheless, this coming week could be important given that a double low has been built at 12.87/12.91 and if the bears fail to get down to that level this week and the stock turns around the following week to the upside, the double low will be tested successfully and the chart fulfilled to the downside. If that occurs, the bulls will get some new ammunition to attempt to resume the uptrend. Chart suggests the stock could get down as low as 13.13 this week and then a turn-around begin. Any movement down to the 12.87/12.91 level would generate a triple low that would likely be broken. If the stock does go below last week's low. The 14.18 level will become pivotal resistance. Probabilities favor the bulls.

CRON generated a negative reversal week, having gone above the previous week's high but then closing red and near the low of the week, suggesting further downside below last week's low at 8.27 will be seen this week. Nonetheless, the action this past week was not indicative of anything as the stock has been trading within a bullish flag formation for the past 5 weeks and unless the stock gets below 8.11, the flag will remain in place. The stock has maintained itself above the 200-day MA, currently at 8.38, for the past 6 weeks and as such, the probabilities favor the bulls. Nonetheless, a break below 8.11 in conjunction with 2 daily closed below the MA line will be seen as a negative. Pivotal resistance is found at 9.12 and if broken, would give the bulls new ammunition. Probabilities are evenly matched this week.

ENG had a very uneventful inside week with a close in the middle of the week's trading range, suggesting an equal chance of going above last week's high at 3.68 than below last week's low at 2.85. By the same token, the bulls were able to keep the stock above the weekly close support level at 2.88, meaning they maintain the edge in their favor. Pivotal intraweek support is found at 2.53 and pivotal resistance is at 3.88. Any action within those parameters at this time is relatively meaningless. Probabilities slightly favor the bulls this week.

MAS generated a second green weekly close in a row but the bears maintained their slight edge given that the stock still closed below the weekly close resistance at 58.70, having closed on Friday at 58.73. Nonetheless, the stock did close near the high of the week, suggesting further upside above last week's high at 59.36 will be seen this week. Intraweek resistance is decent and clearly defined at 60.16. A break above that level (especially if above 60.30) would give the bulls' new ammunition to attempt to resume the uptrend. The previous week's low at 57.22 is now pivotal support that if broken would further weaken the chart. This is a stock that was given a buy mention by Goldman Sachs this week with an upside target of $73. Probabilities favor the bulls.

MRGE generated an uneventful week but with a green weekly close and a close near the high of the week, suggesting further upside above last week's high at .202 will be seen this week. The selling pressure seen the previous 12 weeks has abated and some recovery is likely to occur given that the bears have been able to prevent further downside and 2 green weekly closes have occurred. Pivotal intraweek resistance is found at .2157, which if broken, would offer open air above up to .37, at least based on the weekly chart. Nonetheless, this is a stock in which the traders are awaiting positive fundamental news to get involved with and until that happens, little other than "trading the small trading range" is likely to occur.

NEM generated a positive reversal week, having made a new 9-week intraweek low and then going above the previous week's high and closing green and near the high of the week, suggesting further upside above last week's high at 64.11 will be seen this week. This positive reversal seems to be indicative given that it not only reversed positively but did go above the previous week's high. In addition, the previous week the stock has generated a positive reversal but it was negated early in the week when the stock went below the previous week's low. Such action should have brought new selling interest but instead it created a new and stronger positive reversal week, strongly suggesting that negative news has to come out for the bears to regain the edge they have had the last few weeks. The stock has open air above up to 65.78, suggesting that will be the upside objective for this week. Evidently, any new low below last week's low at 61.63 will be considered a strong negative. Probabilities favor the bulls.

PEP made a new all-time intraweek and weekly closing high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 149.78 will be seen this week. This was a strong bull statement given that just 3 weeks ago, a sell signal on the daily closing chart was generated, meaning that the bulls were able to not only negate a negative but stimulate a strong positive. This breakout still needs to be confirmed this week but the probabilities do favor that happening, meaning that looking for an exit point from the short trade is the thing to do. Any daily close below 148.30 would generate a failure signal. I will be looking to cover the shorts this week and hopefully around 148.30.

PGEN generated an uneventful week but did close red and near the low of the week, suggesting further downside below last week's low at 6.27 will be seen this week. The bears have been trying to break down the stock for the past 9 weeks but they have so far been unable to do so. On the opposite side, the bulls have not been able to make any positive statements either, suggesting that slowly-but-surely, the bears continue to gain more and more of an edge and that the probabilities are now slightly favoring the bears. One thing the chart does suggest is that this week something more tangible is likely to occur (bear win or bull gain), meaning it is looking like a short-term pivotal week. Intraweek support is found at 5.80/5.94 that if broken, would give the bears control. Any rally above 7.01 would give an edge to the bulls. Probabilities slightly favor the bears.

SNDL generated an uneventful inside week but did close near the low of the week, suggesting further downside below last week's low at .89 will be seen this week. The 200-day MA, currently at .78, is the present magnet. That line was tested successfully a few weeks ago and off of that successful retest of the line, a rally up to 1.49. A drop down to that level is likely to be seen this week, but is also likely to hold up and generate a rally again. How high that rally would be will answer a lot of questions. For now though, the probabilities continue to favor the bears this week. The 1.06 level is pivotal resistance that if broken, would suggest that a strong base of support has been built. Probabilities favor the bears this week but overall, the stock looks supported for the longer term.

SRUTF made a new 7-week low at .046 but then rallied to close near the high of the week, suggesting further upside above last week's high at .0558 will be seen this week. On a negative note though, the stock did confirm the failure signal against the bulls given last week, having generated another red weekly close below the breakout point at .0585. On the other side of the coin, the stock did get down to the 200-day MA, currently at .0479, and generated a positive reversal day on Friday, meaning that if the stock gets above Friday's high at .0532 on Tuesday, a successful retest of that level will have occurred. Short-term pivotal daily close resistance is found at .0574, which if broken would suggest the correction is over. Any weekly close above .0585 would suggest a rally is occurring. In looking at the weekly chart over the past 3 years, it is evident that a rounded bottom has been forming and rounded bottoms become strong support levels from which a major rally usually follows. For now though, last week's low a .046 does seem to now be the likely low for the correction. The .0585 level (based on a weekly close) will once again be a pivot point that when broken, should bring in some consistent buying interest. Probabilities favor the bulls.

STWD generated an uneventful inside week but did close red and near the low of the week, suggesting further downside below last week's low at 25.97 will be seen this week. The lack of follow through to the upside as well as the red action seen in spite of indexes going higher was likely because the company announced a private offering of $400 million unsecured bonds at 3.65% interest rates to be settled on July 14th. The bond offering is to be used to improve green projects in its properties. It is a long term positive but a short-term negative while the bond offering gets settled. The thing to watch this week is the previous all-time daily closing high at 25.87 and the previous all-time weekly closing high at 26.01. Evidently, two closes in a row below those levels would change the chart picture from bullish to sideways. A rally above the present all-time intraweek high at 27.01 would give the bulls reason to step up and buy more. Probabilities favor a sideways trend for this week and then renewal of the uptrend the following week.

ZLAB generated a 2nd green week in a row but the bears were able to keep the stock from breaking the pivotal daily close resistance at 180.00, having closed on Thursday at 178.32 and then generating a red close on the daily chart on Friday. The bulls did have momentum and the chart in its favor and it was expected the bulls would be able to break that resistance and continue the attempt to make new all-time highs. That did not happen and it was a slight negative. Nonetheless, the stock did close in the upper half of last week's trading range and further upside above last week's high at 178.91 is expected to be seen this week. Evidently and because of the now successful retest of the 180.00 daily close resistance on Friday, the bulls need to go higher right from the start of the week. There is pivotal intraweek support at 170.00, which if broken would suggest the bulls have failed and some new selling interest would be seen. On an intraweek basis, the bulls need to get above 181.92 and if that occurs, new buying interest would be seen and the probabilities of a new all-time high being made would increase exponentially. Probabilities still favor the bulls but not as much as it favored them last week. I do want to give you the price projections of the 13 analysts that are following the stock: The 13 analysts offering 12-month price forecasts for Zai Lab Ltd have a median target of $206.60, with a high estimate of $263 and a low estimate of $174.56. The median estimate represents at +17.45 increase from the last price of 175.90.