AU generated a new 7-month intraweek high and weekly closing high and closed near the high of the week, suggesting further upside above last week high at 18.56 will be seen this week. There is a downside gap from May at 19.00, which likely will be closed this week and if closed, it will change the downtrend that started in March back into a sideways trend. Nonetheless, the 200-day MA is currently at 20.00 and until that line is convincingly broken, the bulls will not get anything more than a short-term edge. If all of the above happens, the 14.57-14.76 will become the new and decent intraweek and weekly close support area. Probabilities do favor the stock trading between $15 and $20 for the rest of the year, meaning that if the $20 level is reached, consideration should be given to liquidating the positions and re-buying around the $15 level.

BABA generated an uneventful inside week but did close near the low of the week, suggesting further downside below last week's low at 74.58 will be seen this week. There is clear intraweek support of some consequence at 73.28 that is likely to be the downside objective for this week. Nonetheless and using the daily closing chart, the door is open for a drop all the way down to the $70 demilitarized zone, if and when the fundamental situation in China (zero Covid) is exacerbated in any way. Short-term pivotal resistance is found at 78.85 and pivotal resistance is found at 85.68, which if broken would suggest a rally up to the 200-day MA, currently at 94.13, would be seen. The fundamental news from China on the Zero Covid issue remains the driver to both the downside and the upside.

CAT generated a relatively uneventful inside week but did close in the upper half of the week's trading range, suggesting further upside above last week's high at 239.63 will be seen this week. Nonetheless and looking at the daily chart, the stock is now showing a successful retest of the recent 18-month intraweek high at 239.85, with the 239.63 high seen on Wednesday, followed by a lower low on Friday, meaning that the charts are somewhat in conflict at this time. Pivotal intraweek support is found at 225.51, which if broken would be a tangible sign that the rally high has been reached. A break above the $240 demilitarized zone would suggest a rally up to the 245.78-246.69 will occur. The dichotomy between the charts, makes the possible action this week, a toss up.

ENG made a new 10-month intraweek low and a new 24-month weekly closing low this past week but did close in the upper half of the week's trading range, suggesting further upside above last week's high at .91 will be seen this week. Using the daily closing chart, there is now a double bottom at .83 and .82 that if confirmed would likely generate a strong short-covering rally and new buying interest. A daily close above .88 would increase the probabilities of the double bottom being in place and a daily close above .99 would confirm it. Evidently, any daily close below .82 would further weaken the chart. Probabilities do favor the bulls.

LI generated a 2nd red weekly close and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 16.22 will be seen this week. Nonetheless, the pullback being seen is normal as the stock had rallied 36.3% over the previous 4 weeks after having made a new all-time low and as such, a retest of that low was expected to be seen. There is decent intraweek support at 15.96, which if it holds and the stock rallies from there, would be considered the necessary/required retest of the low and would open the door for a rally up to the $22-$23 level. There is a gap at 15.15 that could be a magnet for closure, if and when the ZeroCovid restrictions remains an issue. If that gap is not closed (but the stock does drop down to 15.96), another gap to the upside would need to occur, to further strength the chart.

NEM generated a positive reversal week, having made a new 2-week low but then closing green and near the high of the week, suggesting further upside above last week's high at 46.59 will be seen this week. There is some pivotal resistance at 46.95, which if broken would suggest a rally up to the 200-week MA, currently at 53.54, would be seen. There is an open gap on the weekly chart at 50.84 that would need to be closed for that objective to be reached. Nonetheless and given that it seems the downtrend is over, probabilities of the gap being closed are high. Short-term pivotal support is found at 44.05, which if broken would change the short-term chart picture.

PLNHF generated an inside week but did close green and on the high of the week, suggesting further upside above last week's high at 1.35 will be seen this week. For the past 7 weeks, the stock has been trading sideways between 1.10 and 1.40 but on Friday, the stock did generate the highest weekly close in the past 12 weeks, suggesting that it is now ready to break out and make a statement. Evidently, the 1.40 level is pivotal resistance as it has been the intraweek high on 2 different occasions since October 7th. A break of that level would leave "open air" up to the 1.70-1.74 level, meaning that a 20% move up could occur over a very short period of time (1-2 weeks). As far as support is concerned, the 1.10 level remains pivotal support.

QQQ generated a positive reversal week, having made a new 2-week 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 289.46 will be seen this week. If that does occur, the bulls could say that technically the stock has accomplished a successful retest of the 200-week MA, currently at 277.12. The daily chart is also showing a bullish flag formation with the flagpole being the rally from 259.08 to 293.36 and the flag being the trading seen recently down to 280.46. A break above the top of the flag would offer a 314.64 objective. By the same token, the 200-day MA is currently at 306.94, and that line has not been broken to the upside since January 20, meaning that the flag formation has some serious obstacles to overcome even if the top of the flag is broken. To the downside, a drop below 280.46 would not only negate the flag but offer a downside objective of 268.56, which is where there is an open gap to the upside. Evidently, the 280.46 and 293.36 levels are short-term pivotal and with the stock closing on Friday at 286.92, it is in the exact middle of that trading range, meaning there is no clear outlook, at this time, for direction this week.

VET generated an uneventful inside red week but did close near the high of the week, suggesting further upside above last week's high at 19.67 will be seen this week. Nonetheless, the red weekly close (by $.16 cents) did confirm the previous week's sell signal when the stock closed below the established weekly close support at 19.63, meaning that the bears do have short-term control at this time. With the Oil market also showing a short-term weak chart, the downside objective for the stock is 17.42. This does mean that if the stock does rally above 19.67 at the beginning of the week, consideration to liquidating the positions should be given. If the stock does get above last week's high on Monday, it is possible that a rally as high as the 200-day MA, currently at 21.69, could be seen.

VNET reported earnings this week and they were slightly lower than expected. As such, the stock generated a red weekly close and closed 3.7% lower than the previous weeks' close. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 4.77 will be seen this week. The stock remains in a trading limbo as the traders await the outcome of the proposed merger at $8 a share. In the meantime, the bears have re-established a slight edge given that the proposed merger has not advanced one iota for the past few months. Potential downside objective for this week could be as low as 4.45. The merger remains a supportive force and therefore it is unlikely that any breaks of support will occur. Midterm pivotal resistance is at 6.43, which if broken would make the $8 level the objective.

ZLAB generated another red weekly close and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 30.37 will be seen this week. Intraweek support is found at 28.18 and at 27.44 and then decent and likely not breakable at 25.78. Some minor but short-term pivotal resistance is found at 33.69 and then nothing until 37.50. Like with all the Chinese stocks, the ZeroCovid issue remains the key.