AU made a new 3-week high and closed on the high of the week, suggesting further upside above last week's high at 16.23 will be seen this week. Using the daily chart, a buy signal as well as a failure signal against the bears was generated. The next area of intraweek pivotal resistance is found at 17.28 (17.08 on a daily closing basis). Further weekly close resistance is found at the 200-week MA, currently at 17.44. Nonetheless, a break above 17.28 will leave open air above until 18.33 is reached. That level is a previous low daily close support that is now resistance. To the downside, intraweek support will be found at 15.60 and at 15.24. The stock did gap up on Wednesday between 15.18 and 15.36 which means that if another gap occurs before that gap is closed, it will be an additional sign that not only has the bottom of the correction been found but if the stock can close above the 200-week MA on Friday, that a recovery rally would likely occur. Probabilities favor the bulls this week.

BTZI generated a green weekly close, which is the first in the last 5 weeks. Unfortunately for the bulls, they were unable to confirm the green weekly close as being meaningful given that the .06 level was not broken intraweek (high was .06) and the bulls remained below the .0545 level of pivotal daily and weekly close resistance (closed at .0495). The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at .045 than above last week's high at .06. Simply stated, it was an uneventful week in spite of the green weekly close. Probabilities slightly favor the bears this week.

CNX generated a green weekly close and above an established weekly close resistance level at 12.00. The stock closed in the middle of the week's trading range, suggesting equal chance of going above last week's high at 13.15 or below last week's low at 11.96. The action seen does suggest that the correction is totally over. On the other side of the coin, the bulls failed to generate a failure signal against the bears, having closed at 12.62 and the previous low weekly close that when broken caused the stock to drop to 10.41 is at 12.61. This suggests that the bears have lost control but still may have a short-term edge. The key level at this time is last week's high as well as the 13.04 level where the 200-day MA is currently located. The stock has traded below that line for the past 11 weeks and a confirmed break above the line would shift the edge back to the bulls. Short-term pivotal intraweek support is found at 12.22 and pivotal at 11.42. The 12.22 level is pivotal "this week" because there is a potential bullish flag formation with that level as the bottom of the flag. By the same token, the 200-day MA at 13.04 is clear resistance. Whichever of those 2 levels gets broken first will generate further movement in that direction. Probabilities slightly favor the bulls.

CRON continued to move lower keeping the downtrend intact. Short-term pivotal resistance is now found at 6.08 and short-term pivotal support is found at 5.17. Having closed at 5.64 on Friday, the stock is in the middle of those two levels. There is no news on the company or on Cannabis for this week and the company does not report earnings until November 5, meaning that the probabilities favor more of the same happening this week. At least, the action has been very limited in nature the past 5 weeks and that is likely to continue this week.

ENB generated a new 13-week intraweek high but failed to confirm any change in the outlook, having closed red on Friday and still below the short-term pivotal weekly close resistance at 40.03, having closed at 40.03. The stock closed slightly in the lower half of the weeks' trading range, suggesting a slightly higher probability of going below last week's low at 39.62 than above last week's high at 40.57. Probabilities very slightly favor the bears due to the indexes likely to head lower but the reality is that the stock has no clear direction at this time and probably won't until its earnings report comes out on October 26. Pivotal resistance at 41.13 and pivotal support at 38.58.

ENG generated a minor but likely indicative breakout, having closed on Friday above 2 weekly close resistance levels at 2.35 and 2.88. The latter is more significant as it was resistance that lasted almost 4 years before being broken and once broken, opened the door for a rally to the 9.40 level. The stock did close near the high of the week, suggesting further upside above last week's high at 3.37 will be seen this week. A breakout like this occurred the 3rd week of June with a weekly close at 3.46, which is now considered pivotal resistance. On that occasion though, the breakout was negated 2 weeks later, meaning that this breakout is not yet dependable. This is especially true given the volatility seen this past week without any news (stock traded an average of .80 cents daily trading ranges the last 3 days of the week and yet the average daily trading range for the past 3 months has been less than .30 cents). The interest is definitely on the side of the bulls (having broken out) but there is not yet enough tangible proof that more upside is to come. Key level to watch this week is the 3.60-3.67 area on a daily closing basis. There is a double high daily close at 3.60/3.54 and the 200-day MA is currently at 3.67. If those levels are broken, there is open air above until 3.84 is reached (minor resistance) and then absolutely nothing until the 5.00-5.19 level is reached. Resistance levels mentioned are based on weekly closes. If a breakout does occur, the stock will likely move up to 3.84, drop back down to test the breakout at 3.60 and the continue higher to $5. Pivotal daily close support is now found at 2.67. Any daily close below that level will defuse the bull action. Probabilities favor the bulls.

MRGE generated a positive spike high reversal week, having broken below last week's low at .036 (low this past week was .035) and then spiking up to .11.5 and finally closing on Friday at .075 (middle of the week's trading range. The stock did generate a new 4-week weekly closing high and in the process generated a new buy signal as well as making the previous week's close at .057 into a successful retest of the multi-month weekly closing low at .05. The action seen does strongly suggest the correction is over and that a bottom has been found. There is quite a bit of intraweek and weekly close resistance between .125 and .135, which includes the 200-week MA, currently at .1267 and the high weekly close seen in December 2018 at .13. That high weekly close lasted 14 months before being broken. That area is the upside objective of this breakout. Unfortunately, that area is not likely to be broken until some tangibly positive fundamental news is received. On a daily closing basis, the .07 level is now likely to be support, meaning that the stock is likely to trade between .07 and .125 for the next few weeks. Probabilities favor the bulls.

NEM continued lower on a weekly closing basis, having generated another red weekly close (the 4th in a row) and closing near the low of the week, suggesting further downside below last week's low at 53.26 will be seen this week. This was surprising action given the rally in Gold and the other held Gold stock (AU) both generated an eventful upside week. On a not so negative note, the stock only closed $.30 cents lower than the previous week, meaning the selling interest is waning. There is only one support level below and it is on an intraweek basis at 52.33. If the stock does not go below last week's low and rallies above 55.67, Friday's low will become a successful retest of the 53.26 low and a new buy signal will be given. With Gold likely to go higher this week, going below last week's low is not a high probability, especially considering there has been no new news and this stock being more of a leader than a follower of Gold stocks during the past year.

PGEN continued to go lower, making yet another new 11-month intraweek and weekly closing low. The stock got down to the intraweek support level mentioned last week at 4.90 with a low at 4.85 but then turning around to close very slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's low at 4.85 than above last week's high at 5.47. Nonetheless and on Friday morning, the company announced positive results on one of its clinical trials on a Diabetic 1 treatment drug and that generated a positive reversal day and a close at the high of the day, suggesting the first course of action for the week will be to the upside above Friday's high at 5.15. This is a positive fundamental news and when combined with a strong psychological support level at $5 and having reached the next intraweek support level at 4.90, the probabilities now favor the bulls for some type of recovery phase. The first level of resistance (minor but somewhat indicative) is 5.32 on a daily closing basis. That was the previous low daily close seen in July and that lasted 2 months before being broken and generating the new multi-month lows. A confirmed daily close above that level, will take away ammunition from the bears. Pivotal daily close resistance is at 5.60. A break above that level will generate a new buy signal and confirm the correction is over. Daily close support is now found at 4.99, which if broken, would be a negative, especially considered the good news released on Friday. Probabilities favor the bulls.

SNDL generated a new 5-month intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at .0655 will be seen this week. Intraweek support is found at .065, which if broken would generate further downside, likely to .05 level. Same problem and scenario facing the other Cannabis stocks is being seen here. By the same token, there has been very little trading or action seen in the stock for the past 13 weeks as the trading ranges have been minimal (averaging around .$07 per week), compared to the action previously for the entire year when the weekly trading ranges were mostly in excess of $.30 per week. This means that the stock is trading at this moment at a level where there is very little interest in either direction. The .72 level is pivotal resistance. If broken, it is likely the worst is over. Probabilities favor the bears.

SRUTF had a very uneventful week but did go slightly below the previous week's low and then closed near the high of the week, suggesting further upside above last week's high at $.04 will be seen this week. If that occurs, last week's low at $.0343 will become a successful retest of the double bottom at the $.03 level. Such a chart scenario could engender some new chart buying interest. Pivotal resistance is found at $.0505.

ZLAB generated the 4th red weekly close in a row and closed on the low of the week, suggesting further downside below last week's low at 101.87 will be seen this week. The stock has dropped in value 34% over these past 4 weeks. There are 2 reasons for the drop in the value of the stock: 1) Shares of Chinese companies (across the board) have fallen recently based on regulatory fears. It has affected all Chinese companies. 2) The company has been on a strong cash burn over the past few months due to purchases of other companies and increased spending on developing their unique and highly-valued-for-the-future bio-pharma products. Nonetheless, ZLAB has been positively compared with AMZN, a company that for many years saw a negative income as the CEO was building for the future. Overall, the prospects for the company's future are very high. The only problem is the short-term future outlook. The stock closed just below the 100-week MA, currently at 103.33 (closed at 102.75) and if a green close occurs next Friday, it will be seen as a successful retest of that line. That line has never been broken in the history of the stock. If a red close occurs, the downside target becomes the previous all-time weekly closing high at 93.00, a level that when broken a year ago in "October" caused the stock to rally to $193 in just 9 weeks. The $100 level should offer some psychological support, meaning that the downside possibilities (from Friday's closing price) are likely limited to no more than another $9 lower. Any daily close above 116.00 will be a signal that the bottom has been found but any break intraweek break above 112.16 would likely stop the selling interest. This is a strong fundamental company with a very bright future and this area (between $90 and $100 is an area of great interest to buy.