AU generated a close above the 200-week MA (currently at 17.48) for the first time in 2 months, suggesting that the correction is likely over. The stock closed near the high of the week, suggesting further upside above last week's high at 18.28 will be seen this week. On a daily closing basis, there is resistance at 18.33, which was the level that when broken, caused the stock to drop down to the $14 level. A confirmed close above that level will generate a failure signal against the bears. Pivotal daily close resistance is found at 20.31 that is further strengthened with the 200-day MA, currently at 20.51. A confirmed close above that line would mean the midterm downtrend is over. Daily close support is now found at 17.08. Based on the levels involved and the straight up move seen the last 8 trading range, probabilities favor two-way trading this week between 17.08 and 18.33 (based on daily closes). There is a runaway gap up at 19.17 that could be targeted for closure this week but the probabilities do not favor that happening unless the inflation report is higher than expected. Probabilities very slightly favor the bulls.

BTZI had an uneventful inside week but did generate a green weekly close (2nd in a row) and that has not happened for the past 9 weeks, suggesting that the bears have lost some of their "mojo". The stock did close near the high of the week, suggesting further upside above last week's high at .054 will be seen this week. Daily and weekly close resistance is found at .0545 and intraweek at .06 and all of those could be in play this week. Short term pivotal intraweek support is found at .0413. Probabilities slightly favor the bulls this week.

CHUY generated a down week but nothing was broken. The stock did close near the low of the week and further downside below last week's low at 30.63 is expected to be seen. Nonetheless, the mention given the previous week did say that a drop as low as 30.32 could be seen, meaning that further downside this week would not necessarily be a negative. As it is, the double low at 28.91/28.67 was expected to be tested before new buying would be seen. As such and if the stock does get down to 30.32, consideration should be given to adding positions to last week's purchase. Short term pivotal intraweek resistance is now found at 32.36. If that level is broken, it is likely the retest of the lows is successful and new buying interest will arise. Probabilities favor a green weekly close next Friday.

CNX generated a confirmed daily close breakout above the 200-day MA, currently at 13.09, and closed near the high of the week, suggesting further upside above last week's high at 13.68 will be seen this week. The stock has now appreciated 24% from the lows seen 9 weeks ago and that is a solid sign that the correction is over. There is open air above until the 14.09/14.19 level, which is a level that should be seen this week. Nonetheless, a retest of the 200-day MA is also likely to occur sometime over the next week or so. In fact, a retest of the breakout above the 200-week MA, currently at 11.54 might occur before any strides are made above the 14.19 level are seen. As such and as a trader, consideration to taking profits above $14 and buying back around the 12.00 should be given. The probabilities favor this trading range will be seen for the rest of the year. A move above 15.15 or below 10.86 would change the outlook. Probabilities favor the bulls this week.

CRON made another new 10-month intraweek and weekly closing low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 5.41 will be seen this week. Nonetheless, the trading range seen this past week ($.29 cents) is the smallest trading range seen over the past 54 weeks, suggesting the bears are running out of ammunition. In addition, the stock is now in an area (the $5 level) that has been important support on 5 different occasions over the past 3 years, meaning that much further downside is unlikely to happen. This is especially true given that the outlook for the industry is supposed to get much better starting in 2022 and traders usually anticipate action around 9 months before it begins. In looking at the monthly closing chart and going back to 2018, there is monthly close support at 6.05, at 5.67 and pivotal at 5.01. Last month's close was at 5.66, suggesting that a green monthly close is more likely (than not) to be seen this month. On a weekly closing basis, there is support at 5.42 and again at 5.29 and resistance at 5.83. Probabilities favor the stock idling this week.

ENG generated a negative reversal week of some consequence given that it was the biggest trading range week since March and the biggest loss in price (from one week to the other) since April. The stock closed near the low of the week and further downside below last week's low at 2.40 is expected to be seen this week. On the other side of the coin, the drop from the high of the week (3.67) was not a surprise given that there is plenty of established daily close resistance between 3.54 and 3.60 and the 200-day MA is currently 3.69. As such, the moment that the stock hit that level, selling interest was seen and the bulls were not able to counteract it given that there really has not been any positive (or negative) news come out for many weeks. In other words, the traders are trading the stock mostly off of charts at this time. Daily close support is found at 2.20 that should hold up given there is no negative news. In fact, there is some previously established (but somewhat minor) intraweek support at 2.28 that has a good chance of being seen but not breaking as there is no reason to believe that the bears have any kind of an edge right now. Short-term pivotal intraweek resistance is found at 2.84 that if broken, would suggest the bulls got their edge back. The stock reports earnings in 4 weeks and the probabilities favor the stock trading between 2.20 and 3.40 during this period of time.

MRGE generated another green weekly close and a close in the upper half of the week's trading range, suggesting further upside above last week's high at .139 will be seen this week. The stock has now quadrupled in price over the past 2 weeks, suggesting the correction is over. By the same token, the stock got up to the 200-week MA, currently at .126 and the bulls were unable to close above the line, meaning that it is still not clear whether much more recovery is to be seen. Weekly close resistance is found at .128 that does need to be broken before the bulls step in, in a bigger way. Weekly close support is now found at .095 and as long as that is not broken, the bulls will remain with the edge. Clearly stated and on a weekly closing basis, the .095 and .128 levels are the ones to watch from here on in for short term direction.

NEM generated a positive reversal week, having made a new 15-month low and then going above the previous week's high and closing green and in the upper half of the week's trading range, suggesting further upside above last week's high at 55.75 will be seen this week. Nonetheless, the bulls cannot say that any victory was accomplished as they failed to generate a failure signal against the bears given that the previous low weekly close at 54.38, which caused the recent lows to occurred, did not get negated as the stock closed on Friday at 54.31. This does suggest that this coming week is pivotal with a red or green weekly close giving direction for the next few weeks or months. On a daily closing basis, short term pivotal resistance is found at 54.65. A close above that level would suggest the bulls have gotten the edge. On the other side of the coin, any close below 53.56 would offer the same to the bears. Probabilities slightly favor the bulls.

RIO generated a green weekly close, which makes the previous week's close at 66.81 into a successful retest of the breakout weekly close level at 64.42 and from which the rally to $95 came about. The stock closed near the high of the week, suggesting further upside above last week's high at 69.23 will be seen this week. On the weekly chart, there is mostly open air above until the 75.87 level is reached. Nonetheless, on the daily closing chart, there is some minor resistance found at 72.42. Any daily close above 76.07 will open the door for the $80/$81 level where there is longer term pivotal resistance. On a daily closing basis, support should now be found at 67.54. Probabilities clearly favor the bulls this week for a rally up to the $72 level.

SNDL generated a positive reversal week, having made a new 9-month intraweek low but then closing green and in the upper half of the week's trading range, suggesting further upside above last week's high at .7445 will be seen this week. The reason for the unexpected positive reversal was the announcement of the company merging/purchasing liquor retailer Alcanna. Given that this is a fundamental piece of news, this coming week is pivotal. Support should now be found at .65 and pivotal resistance is found at .808, which if broken would mean that the bottom of the correction has been found. Probabilities favor the bulls.

SRUTF continued to trade in a clearly defined trading range between .035 and .04 cents, an area the stock has been in for the past 3 weeks. The breakdown level continues to be the .03 cent level and the breakout level continues to be the .05 level. There is no clue at this time which of these two levels will be broken but given that CRON is near a very decent to strong support level, the probabilities favor either more of the same or a very slight probability in favor of the bulls.

ZLAB made a new 11-month intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 100.48 will be seen this week. Nonetheless, the selling interest has begun to wane as the stock traded in the narrowest trading range seen in over 10 months. Additionally, the stock generated the 5th red weekly close in a row and its existence (since 2017) that has never happened before. The red weekly close was only by $.37 cents and that suggests that "some buying interest is beginning to be found as the $100 psychological support level is reached. The stock did generate some 2-way trading last week and has built short-term pivotal intraweek resistance at 107.98, meaning that if that level is broken, it is likely the bottom has been found and a recovery rally is to occur. It is important to note that there has been no negative news on the company, in fact what news has come out regarding the Bio-pharma products they are working on, has been positive. I would venture to say that the week favors the bulls for a green weekly close next Friday.