AU generated a new 29-week intraweek and weekly closing high but closed in the middle of the week's trading range, suggesting an equal chance of going below last week's low at 24.18 than above last week's high at 26.77. The stock broke above 3 different areas of intraweek resistance at 23.85, at 24.67 and the stronger one at 25.75, as well as above the 200-day MA, currently at 24.10, meaning that the correction is over and that some recovery/short-term rally is happening. Nonetheless, resuming the previous uptrend is still much in doubt. The stock gapped up on the weekly chart between 23.81 and 24.18 and this stock has a strong history of never leaving gaps unclosed, meaning that at some point, the 23.81 level will be seen again. To the upside, the stock does have open air up to the 27.63/28.00 level, and the only question for this week is "which level has the strongest immediate magnet"? The probabilities strongly favor the stock trading in this $24-$28 trading range for the next few weeks but with Gold likely to be heading higher this week, I would venture to guess that the stock will be first heading higher to the upper level of this trading range. If so, taking short-term profits above 27.63 should be considered and then buying back when the stock gets back below $24. Overall though, and over the next 3-6 months, the probabilities favor the stock getting up to the $35 level. During this same period of time, it is also likely that the worst that could be seen is a drop back down to the $22 level, which is now likely to be the new long-term support base. Probabilities favor the bulls.

BTZI made a new 5-week intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at .0712 will be seen this week. This was the 4th red weekly close in a row and the 10th red weekly close in the last 13 weeks. The reason for the continued weakness, even though some small amount of buying was seen in the Cannabis industry this past week, is because the company invested in Bitcoin miners at the beginning of the year and Bitcoin has been experiencing its first strong correction since February 2020, having dropped 49.1% in value over the past 2 months. Bitcoin does show some support around the 29,000 level (closed at 33,000 on Friday) and should bounce back up to the 41,000 sometime over the next few week, suggesting the pressure from the Bitcoin investment will soon be relieved. The stock does show decent support at the .07 level and though it is possible that an intraweek break below that level might occur, this is a level that should hold up and from which some recovery occur. The 200-day MA is currently at .0702 and there is no reason at this time that the line will be broken decisively. For the time being, resistance will be found at .10-.105, suggesting the stock will trade between .07-.10 over the next week or two. If able to generate a weekly close above .105, more upside will open up. For now, the stock is likely to trade sideways.

CNX generated a new 6-week intraweek and weekly closing high and did close clearly above the weekly close resistance level at 13.83 that when broken to the downside, caused the stock to drop below the $13 level, suggesting that the stock is now on a recovery period if not resumption of the previous uptrend. The stock closed in the middle of the week's trading range, suggesting an equal chance of going below last week's low at 13.57 than above last week's high at 14.67. The former has a slightly higher chance of occurring, given that the bears have had the edge for 8 weeks since the downgrade occur and as such, a retest of the previous week's low at 12.87 is likely to be seen. Nonetheless, the end result of the weekly close is that the traders are now much more likely to be buyers on the dips than sellers on the rallies and that will change the mood toward some bullish action from here on in. On the weekly closing chart, there is no resistance above until 15.62 is reached and given that no sell signal (only a failure signal) was given and that now that failure signal has been negated, there is a decent possibility the uptrend will now resume. The downgrade given was mainly in price with the price target lowered to $16, meaning that a break above the high weekly close at 15.62 can easily happen. Using the 5-year weekly closing chart, there is a mountain of resistance that starts around the $16 level and up to the $18 level that is unlikely to be broken anytime soon. This does suggest that if the stock does move up to the $16 level, profits should be taken and other stocks be considered. Any drop below 12.87 would now be a big negative. Probabilities favor the bulls.

CRON generated an inside week and a green weekly close but other than suggesting that the selling interest may have dried up, there was nothing in the action that suggests the stock is ready to move higher. Nonetheless, for the past 9 trading days, the bears have been unable to generate any new downside and now some green has started to be seen, suggesting that at least, the stock is likely to start testing resistance levels above. To the upside, the 200-day MA is currently at 7.93 and there is a minor but short-term pivotal resistance at 7.99, suggesting that will be the upside objective for this week or next. The stock did close slightly in the lower half of the week's trading range, suggesting a slightly higher likelihood of going below last week's low at 7.21 than above last week's high at 7.64 this week. If that happens but the recent intraweek low at 6.99 is not broken, a successful retest of the low will then likely occur and if so, a rally back up to the 200-week MA, currently at 8.64, would be the objective to be reached over the next 2-4 weeks. Overall, there seems to be very little interest in the stock in either direction at these prices, strongly suggesting that the stock will trade off of chart parameters for now. That likely means a trading range between 7.10 and 8.70 for the next few weeks.

ENG generated a green weekly close this past week and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 2.63 will be seen. The probabilities now favor the stock generating some upside given that for the second time since the rally began in December that took the stock up to the 9.40 level has an important intraweek support level been reached. The first time was when the stock dropped back to the 5.00 level, which was a support built 14 years ago and now the support at 2.03 has been reached, which was built 11 years ago and then strengthened once more 1 year after that. In other words, a support level of consequence and importance has now been confirmed that is unlikely to be broken without a negative fundamental change that has little chance of occurring until the next earnings report that comes out in 12 weeks. The traders are now likely to start keying on reaching resistance levels above and seeing if they can be broken. The first resistance level above is at 3.10 and the second one is at 3.96. As such, the traders are now likely to start exploring the upside. A break below 2.00 would now be seen as a negative.

MRGE generated a positive reversal week, having made a new 9-month intraweek low and then closing green and near the high of the week, suggesting further upside above last week's high at .285 will be seen this week. The reversal was impressive given that the stock doubled in price during this rally (from .14 to .28), suggesting that not only no further downside is likely to be seen but that something might be starting to happen fundamentally to the company. Remember that this trade is not a chart trade but a fundamental trade depending on news and a doubling in price could mean something is finally afoot. The .445 level is the kind of resistance that if broken would be indicative.

NEM 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 75.31 will be seen this week. "General" rule-of-thumb is that a 15% rally above the previous all-time high is what occurs, which means that a rally up to around 79.58 (based on a weekly close) will be seen. A drop back down to the previous all-time high at 69.20 will likely be seen thereafter, meaning that consideration to taking profits above $80 should be given. Two daily closes below the previous all-time high at 70.37 would generate a failure signal. Probabilities favor the bulls.

PEP bulls continued their attempts at making a new all-time high, having generated the 3rd higher-than-the-previous week's high and the and the 3rd week out of the past 5 weeks in getting above 147.80 but not been able to get above the all-time high at 148.77. As stated when this mention was originally given, the stock has traded up to 147.20-148.77 level 3 times over the past 15 months, but the bulls have not been able to go any higher than 148.77, which was the high made in December, in spite of the index market having rallied 24% above the highs made 15 months ago. The stock did get up to 148.31 this past week and are likely to attempt to make a new all-time high this week but if they once again fail, it may be the last attempt tried. Last week's low at 144.08 is now a pivot point support level that if broken, would likely give the bears a clear edge. Probabilities slightly favor the bears.

PGEN generated an uneventful inside week in which the stock traded 1/3rd of the previous week's trading range, suggesting that both the bulls and the bears have no ammunition at this time. The stock did close near the high of the week, suggesting further upside above last week's high at 6.98 will be seen this week. The stock is presently below the 200-day MA, currently at 6.90, and has closed at or below that line for the past 14 trading days, meaning that any confirmed close above the line would be a short-term bullish statement. To the downside, only a break below 5.80 would be bearish. By the same token, if the bulls want to break above the MA line this week, Wednesday's low at 6.40 should not be broken. Any intraweek break above the previous week's high at 7.44 would give the bulls a strong edge. Probabilities are 50-50 for this week.

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 stock has now tested the 200-day MA, currently at .6933, successfully on 2 occasions and the fact the stock has traded in the range between .69 and .79 on 11 of the last 12 trading days, does suggest the selling interest has dried up and that the bulls are likely to get the edge this week. Above .79, there is no intraweek resistance until .95 is reached. It is likely that level will be reached this week. A weekly close above .97 would be a breakout. A daily close above .94 would increase the probabilities of that occurring. Any new low below .65 would now be a strong negative. Probabilities favor the bulls.

SRUTF made a new 7-month intraweek high and a new 13-month weekly closing high, having closed above the resistance at .0586, meaning that a breakout has occurred. The stock closed on the high of the week and further upside above last week's high at .0667 is expected to be seen this week. There is some intraweek resistance at .67 but above that, there is no resistance until .072 is reached. Further resistance is found at .08 and again at .09. Nonetheless, on a daily closing basis, the only resistance above is at .077. If that level is broken, there is open air above until the .16 level is reached (based on daily closes). The important thing about the action being seen is that none of this rally has been accomplished on a spike up basis (as the previous highs had been) and that gives a lot more credence to the breakout as well as to the staying power of the rally. With this breakout, the .0555 level now becomes the new support. Probabilities favor the bulls.

ZLAB generated a green weekly close, meaning that the 3-week correction is now over. The stock closed on the high of the week, suggesting further upside above last week's high at 165.43 will be seen this week. The previous week's low at 142.50 is now the new and pivotal-to-the-uptrend support. The question is now whether the stock will trade sideways with a slight upward bias or whether the uptrend is to resume. If sideways, the trading range would likely be $154-$169. If a new high above 177.89 is made, the probabilities would then favor the uptrend resuming and a new all-time high (above the present one at 193.54) made. There is intraweek resistance at 168.95 that is likely to be reached this week and that will be a short-term deciding point. If the bulls are able to get above that level, the bulls will gain an added edge. If not able, a drop back down to $154 will likely occur and the traders then wait for more news to decide what direction to follow thereafter. The probabilities slightly favor the bulls getting above 168.95 this week.