AU generated an uneventful inside week (higher lows and lower highs than the previous week) but did close in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 13.66 than above last week's high at 14.92. On an intraweek basis, pivotal support is found at 12.66 but short term pivotal at 13.47. On a daily closing basis, important support is found between 13.66 and 14.00. With Gold having reached a major support level at $1680 and bouncing from it indicatively, it is likely that the stock will begin a recovery phase that will have the 200-day and 200-week MA's, currently at 19.50 and 19.65 (respectively) as the target to be reached within the next 6-9 weeks. Probabilities favor the bulls.

CAT generated a bounce and a green weekly close last week but remains one of the weaker stocks as the percentage rally increase from the previous week's close (3%) was far lower than the DOW (5.6%). This underlying weakness suggests that the traders are still looking for further weakness to be seen. In addition, the green weekly close failed to even break a very minor previous high weekly close at 179.10 (closed on Friday at 178.62). The 200-week MA is currently at 165.83 and it remains the downside objective. Nonetheless, the stock did close slightly in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 182.80 than below last week's low at 172.71. The stock did generate a negative reversal day on Friday, meaning that the first course of action for the week is likely to be to the downside and below Friday's low at 177.34. There is some intraweek support between 176.02 and 176.48, which if not broken will likely generate a rally. If broken though, there is no support below until 169.29 is reached. As such, the pivotal point for this week is the $176 level. The company reports earning on August 2 (the following week). Probabilities slightly favor the bears but for this week it is no more than a 51-49% advantage.

ENG generated a disappointing negative reversal week, having made a new 6-week intraweek high and then closing red and on the low of the week, suggesting further downside below last week's low at 1.16 will be seen this week. Until Friday afternoon, the stock had been showing a strong potential for a breakout from 3-month sideways trend but in the end, no breakout occurred. Daily close support is found at 1.10-1.14 level that does need to hold up so that the bulls can one again attempt a breakout. A daily close above 1.30 would generate a breakout (weekly close above 1.22). Overall, the stock remains strongly supported. The company reports earnings on Aug 4. Probabilities slightly favor the bulls.

LI generated a negative reversal signal, having made a new 4-week high but then turning around to close red, below the previous week's low and on the low of the week, suggesting further downside below last week's low at 33.78 will be seen this week. The stock had made a new all-time weekly closing high 5 weeks ago but then generated a failure signal the following week and then last week the intraweek high seen 5 weeks ago was tested and not broken, causing a strong profit-taking binge to occur. Nonetheless, the bulls were able to prevent a second failure signal occurring, having closed at the initial weekly close breakout at 34.44 (closed at 34.36). One downside magnet that was in place was the gap between 34.00 and 34.79, which was a 3rd gap that was unlikely to remain open. Now that the gap has been closed and profits taken, probabilities do favor the bulls given that there has been no fundamentally negative news on the company. Nonetheless, this means that the stock will need to generate a green weekly close next Friday so that all the stated above scenario becomes true. As it is, the stock had more than doubled in price in a period of 7 weeks (between May 9th and Jun 20th) and what has been seen now is a 18.6% correction, which is considered normal. The runaway gap between 32.16 and 32.97 should NOT be closed and therefor the 32.97 area is considered support. I would be a buyer near that area. Probabilities favor the bulls for a green weekly close next Friday.

NEM made another new 8-month intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 50.83 will be seen this week. The stock has now fallen 41.2% from the all-time high made April. On an additional negative note, the stock closed below the 200-week MA, currently at 52.49 on Friday (closed at 51.39) and confirmation of that break next Friday would do additional damage to the chart. On a positive note, Gold seems to have found a bottom and if that is confirmed this week, the stock should see quite a bit of short-covering and bargain-basement buying action this week. Given that further downside below 50.83 is expected to be seen this week, the psychological support found at the $50 level should not be broken, meaning that the stock should be purchased as the $50 level is neared. On a negative note and given all the negative chart action seen, the upside has now become limited with the $60-$65 level being the upside objective, to be reached sometime over the next 1-6 weeks. If any further upside is to occur (above those levels), the $75 level is now a "brick wall". Probabilities favor the bulls this week for a green weekly close next Friday above 52.49.

PLNHF generated a spike-type up week last week, having moved from 1.31 to 1.62 (based on the weekly closes). The stock has now moved up 50% in value over the past 4 weeks, strongly suggesting that a bottom to the downtrend has been found. The stock closed near the high of the week, suggesting further upside above last week's high at 1.70 will be seen this week. A new buy signal was given on the daily chart with the daily close above 1.60. The 100-week MA is currently at 1.80 and the 200-week MA is currently at 2.63. The former could be seen this week and the latter, could be seen within the next 4-6 weeks. On a daily closing basis, support is now found at 1.45. It does need to be remembered that fundamentally this stock is rated among the best (for the future) in the Cannabis industry and that industry is expected to begin to stage a comeback this year. Probabilities favor the bulls.

PRTS made a new 11-week intraweek high and a new 23-week weekly closing high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 8.92 will be seen this week. Intraweek resistance is found at 9.00 and then open air until the 10.00 level is reached. The new multi-week weekly closing high is a positive but then again, it was only by $.06 cents and therefore not all that convincing, especially since the same thing happened 5 weeks ago when the previous weekly closing high at 7.89 was broken with the 8.30 high but then followed by a failure signal thereafter. The stock reports earnings on Aug 2 and the last earnings report was much better than expected and if the same thing happens again (more likely than not), it will give the bulls ammunition for much more. Short-term pivotal support now found at 7.55. Probabilities favor the bulls.

SHOP made a new 5-week weekly closing high and a new 9-week intraweek high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 40.68 will be seen this week. The stock finds itself at a copious intraweek resistance area between 39.50 and 41.37 that now shows 6 times that area has been reached over the past 11 weeks, meaning that it is likely to be broken at some point soon. On an intraweek basis, support is now found at 35.00, which should be seen but not likely broken this week. Consideration to adding positions there can be given. Above 41.37, there is minor resistance at 47.06 and again at 48.88 and then nothing until minor to decent intraweek resistance is reached at 59.30, which is/was the original objective given on the mention. Probabilities favor the bulls.

VIPS generated an uneventful inside week but did close on the low of the week, suggesting further downside below last week's low at 9.52 will be seen this week. The stock remained trading above the 200-week MA, currently at 9.20, and that would be the possible downside target for this week, which is a level I would add positions at. The stock has stayed above that line since June 8th (34 trading days), meaning it is established and pivotal (on a daily closing basis). The recent intraweek low at 8.98 is pivotal support but if tested successfully, new buying will come in. Probabilities favor the bulls.

VNET generated an uneventful inside week but did close on the low of the week, suggesting further downside below last week's low at 4.85 will be seen this week. The stock has remained in a defensive posture for the past 4 weeks but the bears have not been able to break any pivotal support levels, suggesting they are waiting for some news or a catalytic event. Pivotal intraweek support is found at 4.61. Short term pivotal resistance is now found at 5.47. Given the nearness of both pivotal levels, it is likely that something will be decided this week or at the latest the following week. Probabilities continue to favor the bulls.

ZLAB generated a new 12-week 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 45.69 will be seen this week. Because of the additional rally seen this week, the 35.09 level has now become important and pivotal support. The stock did generate a new buy signal on the daily closing chart, having closed above the previous high daily close at 41.41 for the past 4 days, suggesting that on a daily closing basis, 41.41 is now indicative support. Next and stronger daily close resistance is found at 49.68, which is likely to be reached but a small correction back down to the 41.41 daily close support then occur. Objective of this trend is the 200-day MA, currently at 54.52. Probabilities of reaching that line within the next 4-6 weeks are high. Stock reports earnings on Aug 9th. Probabilities favor the bulls.