The bears presently have the edge and it is unlikely to change much at this time. Nonetheless, the door is still open for some recovery rally starting at some point this week and continuing for the next 4 weeks (until May). The recovery rally will be dependent on 3 things this week with 1) the inflation report on Tuesday, the Retail Sales report on Thursday, and the earnings reports that begin on Wednesday. Nonetheless, nothing much changed this week and the market continues to favor "targeted stock picking" for profits.

The same mentions given last week are being given again this week as one did not reach the desired entry point and the other reached the first of two desired entry points but closed near the low of the week, suggesting the second (and lower) entry point might be reached this week. There is one more mention in the stock that was liquidated this past week at a good profit and is now in a corrective phase that if the new desired entry point is reached, is a purchase again.

PURCHASES

RBLX Friday Closing Price - 43.10

RBLX was a buy mention given the previous 2 week that has not yet reached the best desired entry point. Nonetheless, the stock did go down in price this past week and reaching the best desired entry point this week is now a decent possibility. The stock represents the #1 company in the new META universe of Virtual Reality. An area that promises great growth in the future when companies elect to use Virtual Reality in their sales approach to sell their products. The stock got up to 141.60 just 5 months ago but then proceeded to drop 75% in value to a low of 36.04, a level reached the 4 weeks ago. That 36.04 low was an all-time low (stock has been trading for only 57 weeks) but a positive reversal occurred 3 weeks ago, with the stock rallying to 39% from that low to the previous week's high at 50.24. The previous week, the stock generated a negative reversal week, having gone above the high seen 3 weeks ago but then closing red and near the low of the week for the past 2 weeks, suggesting further downside below last week's low at 42.55 will be seen this past week. Two desired entry points were given in the original mention 1) at 43.10 and 2) at 39.55. The latter has a good chance of being seen this week.

RBLX chart suggests that if the stock does get below last week's low that it could end up being the required/needed retest of the low, if and when the stock then goes above this week's high the following week. Given the huge downtrend the stock had been in, and which the bulls require to see before stepping in to buy such an intangible and yet unproven concept, a successful retest of the low is required before any new buying is seen. Simply stated, this is a stock that is likely to be traded based on charts than on fundamentals at this time and until more tangible profitable events (contracts) occur.

Using the intraweek daily chart, RBLX shows support at 39.51. Having gotten down to 42.55 and closing near the low of the week, getting down to the $40 level seems to be a high probability given that the indexes are likely to be under sell pressure this week. The stop loss on this trade will be at 35.65, meaning that the risk per share, will be somewhere around $3.74 per share.

To the upside and on an intraweek basis, RBLX has a minimum objective of 66.34, given that at that price there is an open gap that is likely to be targeted for closure if the bottom has been found (likely) and a recovery rally is to occur. In addition, that level is where the initial low week close support (at 67.34) is found. That is the level that when broken, caused the stock to fall to 36.04.

I do want to warn you that RBLX is a volatile stock, meaning that you either have to have a set order at a price to specific price or be on top of the stock during the day, in order to buy at the desired entry point. The volatility is also a positive, given that the upside objective could be reached in short order (not wait a long time. In fact, the chart suggests that if the stock has found a bottom and is ready to recover, that a rally to the $66 level could occur over the next 4-6 weeks.

Purchase of RBLX below 40.00 and using a stop loss at 35.65 and having a 66.34 objective, will offer a 6-1 risk/reward ratio. My rating on the trade is a 3.25 (on a scale of 1-5 with 5 being the highest).

VNET Friday Closing Price - 5.40

VNET is the second-largest Chinese carrier-neutral and Cloud-neutral data center provider. The stock got to an all-time high at 44.45 in February of last year and then has dropped 92% in value to last week's all-time low at 3.51. Nonetheless, the stock generated a key reversal 3 weeks ago, having made the new all-time low and then going above the previous week's high and closing green and near the high of the week, suggesting that a bottom has been found. Nonetheless, no follow through to the upside was seen and the stock has closed red the last 2 weeks (on the low last week), suggesting further downside below last week's low at 5.40 will be seen this week. The stock is showing and island formation on the daily chart, given that it gapped down 2 weeks ago on Monday from 4.67 to 4.29 and gapped up on Wednesday of that same week from 3.95 to 4.73. The weekly reversal and island formation (not yet confirmed) do strongly suggest that the stock has found a bottom.

VNET has no resistance of consequence above until 9.36 and a bit stronger and definitely midterm pivotal at 10.29. Above that level, there is open air to the 200-week MA, currently at 15.29, which is the mentions objective.

Island formations are extremely rare and most often closed. Nonetheless, when not closed, they portend not only a major bottom but also a strong recovery rally. The island formation is likely to be tested this week, especially given that there was no specific positive news for the company. The rally mostly occurring off of the Chinese government statement that they are going to strongly support their market and their economy. As such, a test of the island is likely to be seen, which in turn would give a very favorable entry point to the trade with small risk potential and a large profit potential.

Purchases of VNET around the $5 level (preferably just below $5) and using a stop loss at 3.41 and having at 15.29 objective will offer a 6-1 risk/reward ratio. My rating on the trade is a 3 (on a scale of 1-5 with 5 being the highest).

FSLR Friday Closing Price - 77.61

FSLR was a mention that was liquidated last week at a good profit. The positions held were liquidated after a support level got broken, due to the fact the company received a downgrade by a well-known rating company. The rating company gave a downside target of $65-$75.

FSLR closed last week near the low of the week, suggesting further downside below last week's low at 76.95 is expected to be seen this week. In looking at the weekly chart, there is intraweek support at 73.91, at 70.52, at 67.71 and long term pivotal at 61.24. The 200-week MA is currently at 67.58 and highly unlikely to get broken on a weekly closing basis.

From a fundamental point of view, FSLR has overall strong support due to the high cost of Oil and the strong demand for green energy products. In addition, the company is #1 in the industry and has a well-established track record of success. As such, dips as is being seen now, are highly purchaseable.

From a chart point of view, FSLR made a new 16-month low at 61.24 in February of this year and then promptly rallied back up to 86.31, which was in effect a 41% rally (meaning an official end to the downtrend). Nonetheless, during this rally there was only one successful retest of the low when a drop below the previous week's low occurred (the time it dropped down to 70.52. Then again, the retest of the low was not the kind of a retest that established convincingly a successful retest as it came on a week that was a positive reversal week, likely due to short-covering. As such, a stronger retest of the low based on weakness being met with clear support buying area is needed.

Using the weekly closing chart, a drop down to 72.58 is highly likely to be seen. Using the daily closing chart, a drop down to the $70 demilitarized zone also has a decent probability of occurring, meaning that the desired entry point into this trade is between $70 and $72.60 area.

The upside objective remains the $89-$90 level. That was the objective on the previous mention and it remains highly viable. Nonetheless, on the previous mention the $110 level was a possibility, whereas right now that objective is not likely to be seen unless the fundamental picture changes. The stop loss for this trade will be at 67.27 based on a daily close. Meaning that purchasing the stock at 72.59, using a 67.27 stop loss and having a $90 objective, offers a 3-1 risk/reward ratio. Evidently, if the purchase is done near the $70 level, the risk reward ratio will climb to as much as 7-1. My rating on the trade is a high one at 4.25 (on a scale of 1-5 with 5 being the highest).