AMRX made a new all-time intraweek and weekly closing low and did close near the low of the week, suggesting further downside below last week's low at 1.82 will be seen this week. Nonetheless, the stock did report earnings and they were better than expected, meaning that the new lows are somewhat inexplicable and therefore open for a non-confirmation action this coming week. Fundamentally, it has been stated by the analysts following the stock that it should see the $4 level within the next 6 months, but if the bears are able to confirm the break this week, that will be difficult to achieve. On a daily "and" weekly closing basis, a confirmed close above 1.96 will negate the break (stock closed on Friday at 1.92). There is no established support below, meaning that if it continues lower there is no level where automatic buying interest will occur.

CAT generated a strong up week, having appreciated in value 7.5% over the previous week's close. The rally was based on news, given that it was announced that the company and its union agreed to a 6-year deal. The stock did generate a breakaway/runaway gap off of the news and that does give the bulls a decided edge for this week. By the same token, the all-time high at 266.06 had not been tested prior to this week, given that the previous 4 weeks since the all-time high was made were all lower highs than the previous high. Having made a new all-time high and fallen 12.5% from that high without any negative fundamental news does need/require a retest of that high before the bears climb aboard in a bigger way. As such, this rally will either become resumption of the uptrend or a retest of that high before further downside occurs. There are two levels of resistance above that are of great importance with the first one being a potential breakaway gap between 261.31 and 257.39 and the second one being a previous high daily close at 258.58. If the gap gets closed and the stock closes above 258.58. it is likely that the uptrend will resume and new highs made. Nonetheless, the agreement between the company and its union is not a positive change of fundamentals (it is just a negative that has been removed) and therefore, it is unlikely that the resistance above will be broken. What this means is that the breakaway and runaway gaps below will be targeted for closure and the breakaway gap is at 236.69. If that gap is closed, the probabilities will favor further downside with the 200-day MA, currently at 211.12 as the target. It is likely that this week will be mostly chart oriented until Friday when the Jobs report comes out. As such and for the first 4 days of the week, the resistance levels mentioned above should hold. To the downside and for this week alone, drops down as low as $245 could be seen.

DOW is in the same boat as CAT, inasmuch as the stock went above the previous week's high and this rally is likely to be the required/needed retest of the 9-month high weekly close at $60 that was made 5-weeks ago. The stock did close near the high of the week, suggesting further upside above last week's high at 58.66 will be seen this week. There is intraweek resistance at 58.80 and again at 59.33 that should hold up if the stock is to head lower. The action this past week seems to be totally chart oriented, meaning that the bears should win this battle unless the Jobs report on Friday gives the bulls new ammunition. There is now a triple bottom at 55.85/55.83/56.06 that should be a magnet. Probabilities favor the bulls for a higher high than-last-week action on Monday but then red should follow thereafter.

ENG generated a negative reversal week, having gone above last week's high and then closing red and near the low of the week, suggesting further downside below last week's low at .70 will be seen this week. In addition, the stock made a new 3-year weekly closing low at .73, breaking the previous low at .74. It is not a decisive break but it does show that the bears are in full control. The stock reports earnings on March 16th (9-trading days from now) and that is likely to be the decisive factor. One thing that does need to be mentioned is that the volume is extremely low (in fact, over the past 156 weeks, this past week's volume is the 3rd lowest), meaning that there is very little interest in trading the stock at this time. Intraweek support is found .69 and intraweek resistance at .82.

PLNHF did nothing of consequence this week. As such, the same levels as stated last week (.81 to 1.05) continue to be possible trigger points. There has been no new news and no news is scheduled to be released any time soon. The volume seen the past 2 weeks has been the lowest seen in the past 3 years, meaning the traders are waiting for some catalyst to appear for movement to occur. This company is considered to be among the better cannabis companies around and not likely to head lower. The only question then being, "when will the cannabis industry start to improve?".

SHOP generated a positive reversal week, having made a new 6-week low and then closing green and above last week's high, suggesting further upside above last week's high at 43.49 will be seen this week. There was no news to support the rally, suggesting this rally occurred mostly because the indexes rallied this past week. There is decent intraweek resistance between 45.06 and 45.43 that is likely to be seen this week but unlikely to be broken. The positive reversal week has made the chart a bit less short-term bearish but the 200-week MA, currently at 36.30, continues to be a viable downside target. On a daily closing basis, there is resistance at 43.40 and given that is where it closed on Friday, it does suggest the stock may rally intraday on Friday but then close red at the end of the day. If that does occur, the bears will be back in control. Otherwise, the short-term chart may change a bit.

TXT generated a positive reversal week, having made a new 4-week low but then going above last week's high and closing green and near the high of the week, suggesting further upside above last week's high at 75.09 will be seen this week. The bulls remain with a decided edge but they are facing an intraweek resistance area of note up at 75.97/76.11, which if broken would suggest the all-time high at 79.45 would be tested. The bears have had very limited success recently in backing off of this resistance area as the recent low (last week's low at 72.06) means that only a 5.3% correction from the high has occurred. This week is highly important as the resistance area is only $1.51 (2%) away from Friday's close. Evidently, a failure here will bring in new and stronger selling. On the other side of the coin, a rally above 76.11 would do the exact opposite. The stock did close in the lower half of Friday's trading range, suggesting the first course of action for the week is likely to be to the downside with a 73.04 objective. Anything lower than that, would start giving some ammunition to the bears.

VET followed through to the upside (after the previous week's positive reversal) with a 2nd green weekly close. The stock closed on the high of the week and further upside above last week's high at 14.25 is expected to be seen this week. The stock had a gap down from 14.03 that occurred on February 17th and that caused the stock to drop down to the important intraweek support at 13.00 (dropped down to 12.9) and now that gap has been closed, meaning that the bears lost that ammunition on Friday. In addition, a failure signal against the bears was given on Friday when the closed above the previous low daily close at 13.95 (closed at 14.13). If that failure signal is confirmed on Monday with another close above 14.13, the next resistance area is not found until 14.85 and if that level gets broken on a daily closing basis, the $16-$17 level will be the objective. All of this action was supported with Natural Gas also generating a mini breakout above the 2.90 level (closed at 3.00 on Friday), meaning that a rally up to the 3.40-3.70 is now likely to occur. Daily close support in the stock is now found at 13.40. A daily close below that level will mean this mini breakout has been negated.

ZLAB generated a positive reversal week of consequence, having gone below the previous week's low and the closing convincingly above the previous week's high. The action was strongly indicative given that the gap to the upside at 33.94 (which occurred after good fundamental news came out) was not closed (last week's low was 34.36) and then the bulls were able to close above a short-term pivotal weekly close resistance area at 37.76. Both of those actions put together, suggest that the bears have lost the battle and probably lost the war as well. In addition to all of that, the bulls now show a successful retest of the 200-day MA, currently at 36.93 as well as generating a buy signal on the daily chart, having closed on Friday above a decent daily close resistance between 40.38 and 40.69 (closed at 40.91). The bulls do have more to do to confirm all of this positive action as any negative action on Monday would defuse the strength seen on Friday. There is open air above up to the $45 level, meaning the rally should continue on Monday. Any daily close above 47.62 would not only confirm all of this but give the bulls additional an new ammunition for a rally up to the $60 level. Any daily close below 36.93 would be indicative and favor the bears.