AU generated another red week but nothing of consequence occurred. Nonetheless, the stock closed on Friday at 19.85, which is where the 200-day MA is currently at, and that means that Monday's close (red or green) is likely to be eventful. The break above the line occurred 12 days ago and given that the stock had traded below the line for the previous 5 months, a retest of the line was highly likely to occur. A green daily close on Monday will be a successful retest of the line and if that occurs, new buying interest is likely to be seen. The chart is presently showing a breakaway/runaway gap formation with the runaway gap being at 19.13. Closure of that gap would be a negative, meaning that consideration can be given to liquidating the positions if that occurs. Intraweek resistance is now found 21.29 and pivotal at 21.80. Chart still suggest that the 23.75 level is the objective of this recent breakout. Probabilities favor the bulls.

BTZI continued to slide down without any sign of buying interest of importance. The stock is trading at a new all-time weekly closing low and with a close near the low of the week, further downside is likely to be seen. At this time, the only thing that can help the stock is a rally in Bitcoin. As such, see above to the Bitcoin evaluation for the levels in play there. For me, this trade (and especially at this price) is a hold with a sink or swim mentality. The bulls need to generate a daily close above .0225 in order for any short-covering interest to be seen and a close above .039 for any new buying interest to be seen.

CALM made a new 11-week intraweek high but in the end (Friday's close), nothing was accomplished as the stock closed only $.11 cents above the previous week's close and still below the pivotal weekly close resistance at 37.13. Nonetheless, the new 11-week intraweek high does show that the traders are mostly on the buy side and given that the fall back occurred only on Friday when the entire market fell, does suggest that the action seen for the week was a positive and possibly an indicative positive. The stock did close slightly below the 200-day MA, currently at 37.09, meaning that Monday's close is likely to be important. A green close on Monday above 37.09 is likely to re-stimulate the buying interest seen early last week. Pivotal intraweek support is found at 36.34, which if broken would be seen as a negative. The stock is showing a double high on the daily closing chart at 37.85/37.83 and as such, any close above that level would be a breakout of short-term consequence.

CHUY generated a 3rd red weekly close and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 29.60 will be seen this week. This move down is not unexpected as the recent 10-month intraweek low at 28.48 (28.89 on a daily closing basis) needs to be retested successfully before new buying interest appears. On a possible negative note, the stock is now showing a double high on the daily closing chart at 34.60/34.71 and that increases the chances of the stock resuming the downtrend that began in April. Due to the levels in play at this time, this week seems to be pivotal for the stock. A daily close above 32.63 will give the bulls the short-term edge and a daily close below 28.89 would do the opposite.

ENG made a new 13-week intraweek and weekly closing low and closed very slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 1.87 than above last week's high at 2.14. The stock finds itself at a very important and pivotal level at $2, which is a level that has been pivotal on several occasions over the past 15 years (stock closed on Friday at 1.98). The chart parameters are very clear right now with pivotal daily close support at 1.78 and pivotal daily close resistance at 2.17. As such, there is a high chance that this coming week could be pivotal.

IDCC generated a big spike down week, having dropped 6% in value from the previous week's close. The stock closed on the low of the week, suggesting further downside below last week's low at 67.25 will be seen this week. There was no news to support the fall. From a chart perspective, this move down was not unexpected given that the stock made a new 13-week low 5 weeks ago at 65.79 and that low has not yet been tested successfully, suggesting this move down could end up being the required/needed retest. In addition, the bulls have been able to maintain the stock above the 200-week MA, currently at 66.02, for the last 17 weeks and broken only once (for 1 week) for the last 33 weeks, meaning that the chart still supports the bull side. It is evident by the prices involved that this coming week seems to be pivotal. Any daily close below 65.89 would be a breakdown, which would call for liquidation of the positions. The 200-day MA is currently at 70.04, meaning that two closes in a row above the line would give the bulls the edge back. Due to the clear chart parameters, consideration can be given to adding positions around the 66.80 level and using a stop loss at 65.65.

MRGE for the past 6 weeks (and based on daily closes) has traded between .06 and .10. The stock closed on Friday at .07, continuing the sideways trend. The stock did close near the high of the week, suggesting further upside above last week's high at .082 will be seen this week. Short-term pivotal intraweek resistance is found at .09, which if broken would suggest the base building efforts seen the past few months have been successful. Otherwise, more of the same is expected.

NEM generated a 2nd red weekly close but in this case, the stock closed near the high of the week, suggesting further upside above last week's high at 56.51 will occur. If that happens and a green weekly close occurs next Friday, this move down will be seen as the 2nd successful retest of the 19-month intraweek low at 53.03 (53.56 on a weekly closing basis). The chart seems to be in a base building process that if successful, will reignite a recovery rally back up to the $70-$72 level. Last week's low at 54.61 now seems to be pivotal. If broken, the bears will regain short-term control. Pivotal resistance is found at 60.89 (200-day MA).

RIO generated a green weekly close, which makes the previous week's weekly close at 60.71 into a double bottom (with the close 5 weeks ago at 60.62), as well as a 2nd successful retest of the 200-week MA, currently at 60.73. Nonetheless, the bulls did not do enough to generate a new buy signal as a weekly close above 62.34 was needed and the stock closed on Friday at 62.33. Last week's high at 64.67 is now pivotal resistance. If broken, there is no resistance above until the $66/$67 level is reached. The 59.58 level is pivotal support, which if broken would weaken the chart substantially.

QTWO dropped 9.5% in value this past week (based on the weekly closes). There was no news to support the big fall, meaning it was likely chart oriented. The stock had reached intraweek resistance at 92.34 with a high the previous week at 90.85 and unable to get above and having open air below (as well as a dropping index market), a big drop occurred. Nonetheless and other than dismantling a bullish flag formation, nothing of any consequence was broken. The flag, having been negated, does mean the bulls need new news to go higher but otherwise, the chart maintains its bullish leaning as it remains above the 200-week MA (currently at 79.63). The stock has been above the line since its inception in 2016. The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at 77.61 will be seen this week. Intraweek support is found at 76.90, at 76.56 and at 76.20. A drop below 74.53 would weaken the chart and a drop below 73.51 would turn the chart bearish. Chart suggest that there is a decent probability of the stock "not" going below last week's low but if it does, it would be by a minimal amount. Any daily close above 84.40 would give the short-term edge back to the bulls.

SNDL generated another red weekly close and closed on the low of the week, suggesting further downside below last week's low at .6405 will be seen this week. The stock has now given back 95% of the gains seen just 3 weeks ago, after having appreciated almost 60% in value in one week. There was no new negative news to support the drop, other than general weakness in the Cannabis industry. Once again, the short-term pivotal support at .61 is in play again. A break of that level is likely to take the stock down to the .50 level. To the upside, minor but short-term pivotal resistance is found at .76 and a bit stronger at .81. The Cannabis industry is supposed to start moving up starting next year and with the new year being only 6 weeks away, it seems unlikely that established supports below will be broken.

SRUTF, like with all Cannabis stocks, showed weakness this week. The stock made a new 13-month low and closed on the low of the week, suggesting further downside below last week's low at .028 will be seen this week. The all-time intraweek low is at .025 (.0287 on a weekly closing basis), a low made in October of last year. With the stock closing on Friday at .028, a green close next week by at least .02 cents will generate a double bottom. A red close next Friday (in conjunction with an intraweek break below .025), would be a strong negative.

ZLAB continued the downtrend, having made a new 17-month intraweek low and another red weekly close (the 4th in a row and the 11th out of the last 12 weeks). All intraweek support levels of any consequence have now been broken but the bulls were able to generate enough buying interest at the end of the week to close above the low weekly close for the past 17-months, having closed above 75.17 on Friday (closed at 76.94). It can be said that last week's low at 70.14 might become a successful retest of the 200-week MA, currently at 67.16, if and when the stock gets above last week's high at 84.39 this week. The stock closed very slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's low than above last week's high. Nonetheless, the stock generated 2 green closes on the daily chart on Wednesday and Friday and closed near the high of the day on Friday, suggesting further upside above Friday's high at 77.67 will be seen on Monday. For this week and on a daily closing basis, a close above 85.17 would tilt the probabilities in favor of the bulls. Nonetheless, a rally above 91.84 is required so that the recent low at 70.14 becomes a bottom to this 11-week drop from 152.82.