AU generated a new 5-month high weekly close buy signal and close on the high of the week, suggesting further upside above last week's high at 23.30 will be seen this week. This close was indicative, at least on a short-term basis, given that there was a lot of established weekly close resistance between 22.75 and 22.98, all of which were broken. With Gold also giving a buy signal, the stock should continue to move higher with the 200-day MA, currently at 24.59, as the objective. Longer term daily close resistance is found at 25.42, that if broken would give the bulls new and strong chart ammunition for more. There is some short-term pivotal resistance at 23.45 that if not broken, would likely bring some selling and a drop back down to at least 21.98, a level that is now considered support. Probabilities favor the bulls.

BTZI generated a break of established weekly close support at .105, having closed on Friday at .09. The failure to hold up that area means that the traders are not expecting anything positive happening at this time. By the same token, the stock is still showing a double bottom on the intraweek chart at .07 that has not been broken and if the bulls are able to stay above that level this week and generate a green weekly close, especially if above .105, this past week's action will become a successful retest of that level as well as a failure to confirm the break of weekly close support. The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at .08 will be seen this week. By the same token and on the daily chart, it did close on Friday in the upper half of the day's trading range, suggesting the first course of action for the week is likely to be to the upside. There is intraweek and daily close resistance at .105 that if broken, the weakness seen this past week will be erased. At this time though, the probabilities slightly favor the bears.

CNX generated a positive reversal week, having gone below the previous week's low and then closing green and in the upper half of the week's trading range, suggesting further upside above last week's high at 14.17 will be seen this week. It is clearly evident by the past 5 weekly closes (at 13.83, at 13.72. at 13.57, at 13.42 and on Friday at 13.75) that there is strong buying at this level and without some negative catalyst, the probabilities for the downside are very low. If the stock goes above last week's high this week, last week's low will become a successful retest of the 9-week low at 13.13 seen 4 weeks ago, strongly suggesting that the traders will turn around and explore the upside. The stock has been given a $16 value by several rating agencies and if this happens, it is highly likely the traders will attempt to get up to that price over the next few week. Evidently, any break below 13.13 would now be seen as a negative. Probabilities favor the bulls strongly this week.

CRON continued its weakness, having generated the 5th red weekly close in a row, the 7th in the last 8 weeks and the 9th in the last 12 weeks and having dropped 55% in value. Nonetheless, the stock got down to within $.25 cents of a pivotal and important support level and the bulls were able to generate enough buying to close slightly in the upper half of the week's trading range suggesting that further upside above last week's high at 8.16 will be seen this week. If that occurs, it will be a sign that a support level of dependability may have been reached. The stock did generate a positive reversal day on Friday, having made the week's low that day and then closing above Thursday's high, meaning that the possibilities of a spike low having been made are now decent. The stock did close 2 days in a row below the 200-day MA, currently at 7.90 but if able to negate that break this week with at least 2 closes above the line, the traders are likely to start thinking about buying. Pivotal intraweek resistance is found at 8.51 (19-day intraweek high), which is also where the 200-week MA, currently at 8.58, is also at. A break of that resistance will turn the recent downtrend around into at least a sideways trend. The company reported earnings on Friday and they were much lower than anticipated (-$.44 vs expected -$.11) and that is what brought in the selling. The fact the stock generated a positive reversal day in spite of the negative report is an indication no further selling below last week's low is likely to be seen. In addition, it should be mentioned that Altria, who merged with CRON a year ago, has been rallying of late (up 30% in 6 months). The probabilities do favor the bulls with the only question now being "by how much".

ENG reported earnings and they were substantially below what was expected and the stock tanked. A new 20-week intraweek and weekly closing low was generated and the stock also closed in the lower half of the week's trading range, suggesting further downside below last week's low at 2.24 is expected to be seen this week. The stock has now fallen 76% in value over the past 15 weeks. Up until now and after the 13-year weekly close support at 5.24 was broken, there has been no previous low support found (all supports broken recently have been previous high weekly close supports). Nonetheless, there is decent intraweek low support at 2.03, which is also the level from which the original breakout occurred, suggesting the stock is close to find a level of support that will not likely be broken. Nonetheless, this breakdown has made the job of the bulls to generate upside a lot harder. Evidently, all the previous intraweek highs that were broken on this rally are once again resistance levels (at 3.10, at 4.22 and at 5.68). For the short term, the 200-day MA, currently at 2.98, is going to be the first obstacle to overcome, especially since that was the high seen just prior to the earnings report coming out. Overcoming the earnings report negatives is not going to be easy. As such and for this coming week, the stock is likely to trade between the $2 and $3 level.

MRGE continued lower, breaking the recent trend of trading between $.30 and $.45. Nonetheless, on a chart basis there was no support of consequence broken given that the established intraweek support is found at .225 and .24. In addition, there is a spike low support of consequence at .19. Nonetheless, this is a fundamental buy and hold play waiting for news to occur, the date of which is not known. That news is supposed to cause the stock to move up to the $2 level. As such, chart analysis is not all that useful. Nonetheless, the break of the trading range the stock has been on likely signals a change of the sideways attitude seen recently, which in turn also suggest some news may be on the horizon. The stock has fallen 56% in value during the past 8 weeks and it is now oversold and at levels where "normal" buying interest is likely to be found given that the fundamental picture has not changed.

NEM reversed direction and made a new 27-week intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 67.96 will be seen this week. This new multi-week high makes last week's intraweek low at 60.85 into a new, decent and pivotal support level from which the bulls can buy from with a measure of confidence. Nonetheless and on a potential short-term negative note, the stock has now almost reached a level of established decent weekly close resistance between 67.90 and 68.14 that is likely going to take an additional and even stronger break of resistance in Gold to overcome. As such, I will be looking to possibly take profits on the remaining positions if the bulls reach that level but are unable to generate a weekly close above it. Either way, the stock is now a purchase on any dips back down close to the $61 level. Probabilities favor the bulls.

PEP had an uneventful week even though it generated a green weekly close. Nonetheless, the recent and now established weekly close resistance at 145.83 was not broken in spite of the fact the DOW and the SPX made new all-time highs. As such, the trading seen last week keeps the bears with the edge. The stock did close in the upper half of the week's trading range, suggesting further upside above last week's high at 146.78 will be seen this week. Pivotal intraweek resistance is found at 147.80, which if broken, would suggest the bulls have regained the edge, if not control. Last week's low at 143.49 is now important from the point of view that if broken, this week's rally will become a 3rd successful retest of the multi-year highs. Pivotal support is found at 141.76 that if broken, it will signal that a correction has started. Probabilities slightly favor the bears.

PGEN made a new 7-month intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 6.32 will be seen this week. This drop and close was also very disappointing given that 2 weeks ago a failure signal against the bears was generated and the bulls failed to confirm that it was a dependable signal with this week's new multi-week low close. Nonetheless, the stock is nearing the next level of decent weekly close support at 6.20, which was the first level that when broken caused the stock to rally to 11.10 to occur. There has been no change in the fundamental picture or negative news, suggesting this is all chart oriented and likely temporary, which in turn suggests that at least a bounce will occur. The stock did close on Thursday and Friday below the 200-day MA, currently at 6.79, which is a further negative. By the same token, this kind of break of the MA has already occurred 4 times in the last year and each and every time, it was negated within a few days thereafter The bulla must get above the line and close above the line for at least 2 days in a row to negate the break. If so, a rally back to the previous pivotal daily and weekly close point at 7.81 will likely occur. That level is once again mid-term pivotal. Probabilities do favor the bears this week but only for a small move down. Probabilities do favor a green weekly close next Friday. The company reports earnings on May 31st (3 weeks from now) and until then, it is likely to trade between 6.20 and 7.80.

SNDL generated a green weekly close and closed in the upper half of the week's trading range, suggesting further upside above last week's high at .79 will be seen. The green close has made the previous weeks close at .71 into a successful retest of the 200-week MA, currently at .69, and if that gets confirmed this week with another green weekly close, it would suggest the worst of the correction is over. Short-term intraweek resistance is found at .95, which if broken would be confirmation of a bottom to the correction having been found. Any weekly close below .69 would be a negative but that is unlikely to happen. Probabilities favor the bulls.

SRUTF made a new 10-day intraweek high and closed on the high of the week, suggesting further upside above last week's high at .541 will be seen this week. The bears have failed to make any progress to the downside for the past 6 weeks, suggesting the bulls may try to generate a breakout this week. Any daily close above .559 will give the bulls the edge and a close above .0585 would be a breakout. Probabilities favor the bulls.

ZLAB dropped down 5.1% in price this past week and continued the correction that started the previous week. Nonetheless, the stock got down close to the previous daily close breakout point at 148.66, having seen a low this past week at 150.28. The stock did close slightly in the lower half of the week's trading range, suggesting further downside below last week's low will be seen this week. Nonetheless and using the daily closing chart, the stock did generate a green daily close on Friday, meaning that Thursday's close at 151.47 has become a successful retest of the now previously established daily close support at 150.77, suggesting that the probabilities of going below last week's low this coming week are not as high as it would normally be. The correction being seen at this time is purely chart oriented as the positive news that generated the rally has not been negated. In addition, the $150 level is psychological support. Some bullishness was negated when the "island" formation got negated but the fundamentals and the chart picture still strongly favor the bulls. There are 2 daily close resistance levels above at 162.02 and at 164.83. A close above the former would take some ammunition away from the bears and a close above the latter would suggest the bulls have the edge back. A daily close below 150.77 would now be seen as a negative. Probabilities favor the bulls though it is possible some intraday/intraweek weakness could be seen this week and a drop down to 148.66 occur.