BABA generated an uneventful inside week but did close out the week green, meaning that the rally continues. The stock did generate a 7.5% correction from the previous week's high at 105.05 but then closed with a small spike up day on Friday and closed on the high of the day, suggesting further upside above Friday's high at 103.23 will be seen on Monday. If by any chance the stock gaps up any day this week, a breakaway/runaway gap formation will be formed, which would offer a 122.83 objective. Above the previous week's high at 105.05, there is no resistance until the $121 level is reached, meaning that chart-wise, there are no obstacles to the stock accomplishing the objective (if and when another gap occurs on the daily chart). Last week's low at 97.26 must now be considered short-term important support. A break of that level would likely take the stock down to test the 200-day MA, currently at 92.36. Nonetheless, the news that caused this rally to happen is strong and opens the door for quite a bit of growth to the company over the next few years. This means that the bulls have a viable upper hand at this time. Adding positions should be considered on any gap up as the gap area can be used as a stop loss, which would minimize the risk of such a trade substantially.

ENG generated another new 10-year intraweek and weekly closing low (much like the previous week) but on this occasion, the stock closed in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at .412 than below last week's low at .337. The company did finally report earnings (about 4 weeks after it was due) and they were disappointing and the reason for the gap down and new low. Nonetheless, it seems that the company knew this in advance and prepared themselves for some changes that would prevent this downtrend from continuing, given that about 4 weeks ago they re-hired that old CEO that had been with the company previously and that had been their CEO when the stock rose to $9, just 26-months ago. In the earnings report, he did assure the stock-holders that he was instituting actions to lower the costs/expenses and increase the profits of the company and that he believed the future was bright. The all-time low of the company is $.30 cents and last week's low was .337, meaning that if the stock does rally, it will be seen as a double bottom of note. The stock did gap down, on both the daily and weekly charts, and if by any chance the stock gaps up on Monday, it would be a strong chart reason to buy. It would open the door for not only a double bottom but for an "island formation". That combination would be a powerful reason for the bears to cover their shorts and for the bulls to purchase the stock. Key level of resistance to watch from here on in is the .56 level. That level has been the high for the past 17 days and if broken, it would be a clear sign that a major bottom has been built. Evidently, a new all-time low below .30 would be a negative now.

IR generated a negative reversal week, having made a new 4-week high but then closing red and below the previous week's low. The stock closed near the low of the week and further downside below last week's low at 54.12 is expected to be seen this week. There are 4 intraweek levels of support below at 53.88, at 53.38, short-term indicative at 51.84 and longer term pivotal at 50.75, which does include the 200-day MA, currently at 51.23. A break of the latter, would offer open air below until the 200-week MA, currently at 43.36. The reality is that if the stock does go below last week's low this week, last week's high at 58.60 will become the required/needed retest of the 14-month high at 60.39, which would weaken the chart substantially. There is quite of bit of support below (at the levels mentioned above) but if 51.84 is broken, the uptrend will end and if 50.75 is broken, a short-to-midterm downtrend will begin. To the upside, a rally above 56.91 would begin to negate the weakness the chart is presently showing.

PLNHF continued its red run, having generated another red week (7th in a row) but once again did it with no fanfare of movement of consequence. The red closes over the past 7 weeks (at .88, .86, .84, .82, at .78, .78 and Friday's close at .75) have seen the stock move down a total 0f 14.5%. The volume has been mostly 50% lower than what was being seen previously. Simply stated, there seems to be very little interest in trading the stock at this time, by both the bulls or the bears. It does need to be mentioned that the intraweek low made 5 weeks ago at .70, has been the low for the past 14 weeks, once again giving notice that the traders are waiting for news before doing anything. It is interesting to note that the stock did generate the high and the low for the week on Thursday and did it in a positive reversal format, suggesting that some action to the upside could be seen this week. Short-term pivotal resistance is found at .92 cents but if the bulls can get above .83, it is likely that an attempt at breaking the .92 cent level will be seen. A drop below .70 would suggest a retest of the .60 low, made in December will occur.

RBLX generated a new 23-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 47.65 will be seen this week. Nonetheless, the 24-week intraweek high at 47.67 was not broken, meaning that the stock remains in a midterm sideways trend. It also needs to be mentioned that for the past 14-months, and since a major weekly close support level at 58.18 was broken, the stock has failed each and every time (4 tries) to get consistently above this established (and decent to strong) intraweek resistance area between 47.05 and 53.88. Each and every time that it got up to one of those areas (53.00. 53.88. 47.05, and 47.67), within 1 week thereafter, a "minimum" 15% fallback occurred. This does suggest that without help from the index market, or from some company news, the same will occur this time. The next earnings report is due out in 5 weeks, meaning that it is unlikely any positive company news will come out this week. Minor but short-term pivotal support is found at 44.33. A break of that level could be a sign that the high for the rally has been found. A drop below 41.11 would make that a fact. It is important to note that a daily close above 46.50 (closed on Thursday at 46.20) would suggest the $50 level would be seen. A daily/weekly close above 51.15 would be a major breakout. Downside target on the chart and based exclusively on the weekly closing chart, is the 34.82 level, meaning that at $46, the risk is $5 for a downside of $11 (per share).

TXT generated a negative reversal week, having made a new 4-week intraweek high and then closing below the previous week's low. The stock closed near the low of the week, suggesting further downside below last week's low at 67.25 will be seen this week. There are only 2 intraweek support levels below (at 66.37 and at 65.15), which if both broken would weaken the chart substantially. The stock has been in a 23-week scenario where the bulls had the trend and upper hand in their favor and were not able to get above the high at 76.11 that was made 54-weeks ago. Over the past 22 weeks, there has only been 1 week where the stock generated a weekly closed below Thursday's close at 67.71, and that was 5 weeks ago when it closed at 66.19. As such, it can be said that the bears have a clear edge right now that the bulls need to negate this week if they want to have a chance of the higher retesting the recent highs one more time. The 200-day MA is currently at 67.25 and it is likely to be reached this week but it is support. Any daily close below 66.19 would generate a sell signal of consequence. If that occurs, the $62 would become the next objective. A daily close above 68.70 would take away some of the sell pressure and a daily close above 70.93, would give the edge back to the bulls.

VET generated the 3rd green weekly close in a row, suggesting the failure signal against the bulls that occurred 4 weeks ago when the 200-week MA was broken, currently at 12.41, has been confirmed. Nonetheless, the stock closed on the low of the week, suggesting further downside below last week's low at 13.11 will be seen this week. A required/needed retest on the weekly chart of the 16-month low at 11.93 that was made 5 weeks ago has not yet occurred and therefore if the stock does go below 13.11 this week, that would open the door for a retest to occur. Some support is found at 12.90, which should be seen this week. If that holds up and the stock rallies thereafter, the retest will be successful. If the 12.90 support does not hold up, the next support is at 12.28, which if broken would give the expected recovery rally less of a chance of occurring. With the energy sector presently looking short-term positive, I do expect 12.90 to hold up. A rally above last week's high at 13.87 would give the bulls new ammunition and a break of the intraweek resistance at 14.39 would generate a new and significant short-term buy signal that would open the door for a rally up to the 16.25-17.00 level.

ZLAB generated a totally uneventful inside week and a totally uneventful weekly close, with even chances of going above last week's high at 34.52 or below last week's low at 32.39, neither of which would generate any new action. In using the daily chart, it is possible that a bull flag formation has been formed, with the flagpole being the rally from 30.14 to 35.68 and the flag being the action seen the last 5 days with a low at 32.38. A break above the top of the flag, would offer a 37.92 objective. The 37.76 level is a short-term pivotal weekly close resistance area, which if broken would give the bulls the edge back. This stock is presently likely to move more based on what the Chinese stock market does than on the company itself. By the same token, there is strong support close by below at $30 while resistance of any consequence is not found until the $46 to $49 level is reached. As such, the chart (at this price) benefits the bulls much more than the bears. Any move below 30.14 at this time would be a negative.