BABA (see mention above for update details).

ENG generated yet another new 10-year weekly closing low (4th in a row) and closed near the low of the week, suggesting further downside below last week's low at .30 will be seen this week. Nonetheless, the stock has now reached the all-time Intraweek low at .30 and closed slightly above the all-time weekly closing low at .304 (closed at .31) and that means that the bulls will need to do something this week or give up. By the same token, if the bulls are able to do something positive this week, a double bottom of consequence will occur. The reason for the recent weakness in the stock was a new increase of shares in the company to raise money that occurred about 5 weeks ago. In reading about the company today, there seems to be no compelling reason for the stock to go any lower. The company shows a low percentage rating of 8% of it being in financial stress. It does have a poor Piotrosky score of 4 but that score is above the 2 that normally means that it is going lower. As such, the probabilities do favor the bulls at this price. Pivotal daily close resistance is found at .40. Any close above that level would mean a double bottom has been created.

IR generated an uneventful inside week for the 2nd week in a row but did close red and near the low of the week, suggesting further downside below last week's low at 54.83 will be seen this week. The stock shows intraweek support at 54.12, which if broken will weaken the chart and at 51.84, which if broken will mean the 200-day MA, currently at 51.96 has been broken and such a break would generate a new and strong sell signal that would open the door for a drop all the way down to the $44-$46 level. Short-term pivotal intraweek resistance is at 57.03 and mid-term pivotal resistance is found at 58.60. The company reports earnings on May 3.

PLNHF continued the downtrend that has now been in place for the past 10 weeks and in which, only 1 green weekly close has occurred (last week). The fact that the previous week's green closed failed to generate follow through to the upside, is a negative that strongly suggests the stock needs some positive catalyst to turn things around. Of course, the stock is part of the Cannabis industry and the problem is not with the company itself but with the industry. Having said all of that, the 9-year low at .60 that was made in December, has not been broken and until that occurs, the probabilities overall favor the bulls. The Cannabis industry is expected to grow 14% this year and continue growing at the same rate for the next 7 years, suggesting the downside is likely to be strongly limited or even non-existent at the present prices. Any daily close above .765 would suggest that the .60 level of support has been tested successfully and that some appreciation in price is to come.

QQQ generated a negative reversal week, having gone above the previous week's high and then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 314.10 will be seen this week. The rally above the previous week's high failed to break the short-term pivotal resistance at 321.63, meaning that if the stock goes below last week's low, there will now be an established and pivotal resistance at that level. Short-term pivotal intraweek support is found at 312.57, which if broken would open the door for a retest of the 200-week MA, currently at 289.19. This week is likely to bring the necessary fundamental information with which the traders can make decisions, given that GOOGL reports earnings on Tuesday afternoon and AMZN on Thursday afternoon. Those two reports are likely to be catalytical enough to generate short-term direction in the stock.

RBLX reported its monthly metrics for the company on Monday before the stock started trading and evidently the news was disappointing as the stock gapped down and generated a 14.5% drop in price. The stock will report earnings on May 10th but the metrics probably tell the story of how the earnings report will come out. The bulls tried throughout the week to rally and close the gap up at 44.94 but the best they were able to do is rally up to 41.99 on Thursday. Friday was a red day and the stock did close near the low of the week, suggesting further downside below last week's low at 39.10 will be seen this week. The 200-day MA is currently at 38.67 and that is likely to be the objective for this week, unless the index market breaks down. If that does occur, there is no intraweek support of consequence until the 33.68 level is reached. Evidently, Thursday's high at 41.99 is now short-term pivotal, meaning a stop loss can now be placed at 42.35 to lock in profits.

TXT generated a negative reversal week, having gone above the previous week's high and then closing red and near last week's low, suggesting further downside below last week's low at 67.71 will be seen this week. Short-term pivotal support is found at 67.20 and more pivotal and important at 66.19, which if broken would suggest the $60 level will be visited. Short term pivotal intraweek resistance is found at 71.57. The company does report earnings on Thursday AM..

VET generated a key reversal, having made a new 5-week intraweek high but then closing red, near the low of the week and below last week's low, suggesting further downside below last week's low at 12.83 will be seen this week. The negativity of the week came about because the bulls have failed to generate enough buying power over the past 3 weeks to break the minor intraweek resistance at 14.39 and as such, the bears appeared again. By the same token, it has always been expected that the 17-month intraweek low at 11.93, which was made 6 weeks ago, would be retested before the bulls would climb aboard. This low also includes the 200-week MA, which is currently at 12.33. A retest of those two levels is expected to be seen this week and if successful it will give the bulls new and stronger ammunition, while a break of both of those levels will do the opposite in favor of the bears. On a positive note, the Natural Gas chart does suggest that a bottom to its downtrend has been built and if so, it will keep the bears from being successful. Any rally above 14.39 would now generate a tangible sign that a bottom has been built and that a recovery rally is to occur.

ZLAB bulls failed to generate follow through to the upside this past week and because of that, the breakout seen the previous week was negated when the stock closed on Friday below the 37.76 level, which is a level that has been pivotal for both sides for a period of 51 weeks. The negation of the breakout does not mean anything negative occurred. It only means that the bulls are not "yet ready" to take the stock higher. This probably has to do more with what the Chinese Stock market is presently doing (which is trying to build a new support base) than with anything the stock itself has done. The stock did generate an inside week but did close near the low of the week, suggesting further downside below last week's low at 35.23 will be seen this week. In looking at the daily closing chart, there is support at 35.04 that should not be broken as it was the level (when broken) from which the rally up to the $40 began. A daily close below that level would bring in new selling interest. Any daily close above 40.93 would now be a breakout of note. As such, it is likely the stock will trade between $35 and $40 for this coming week and the following week, a breakout or a breakdown will likely occur, with the former being the most likely.