ENG, once again (for the 3rd week in a row), the stock got down to the .30 cent support level and did not break it. The stock has now traded between .30 and .36 for the past 12 weeks and given that the earnings report is not due out until November 7th, the probabilities favor another 2 weeks of the same. As stated last week, any break above .36 or below .30 would be indicative.

LXRX generated a negative reversal week of some consequence, given that it dropped 24% from high to low (1.43 to 1.10). There was no news to support the drop, suggesting that it was chart oriented and likely to generate a needed/required retest of the all-time low at .96. The news that generated the rally was positive but not immediately positive, meaning that the traders need to fulfill the chart and build a bottom before they will step up in a bigger way. There is daily close support at 1.08, given that was the original breakout point. With last week's low being at 1.10, the 1.08 level is likely to be seen but thereafter, the probabilities strongly favor a positive reversal as any drop below 1.10 would fulfill the need for a retest of the low. On the other side of the coin, last week's high at 1.43 now become the new resistance level that will need to be broken for a bigger move up to occur. In addition to it all, the stock is a small cap stock, meaning that what the RUT does this week could have an effect on the stock. There is some short-term indicative resistance at 1.26.

PLNH generated a positive reversal week, having made a new 7-week low but then closing green and near the high of the week, suggesting further upside above last week's high at .83 will be seen this week. Nonetheless, it has to be said that a lot of "manipulation" occurred this past week given that on Friday, the traders went after all the stops that were sitting right below the .70 level and that caused a drop down to the $.64 cent level (hitting the mental stop I had at .66). In the last 30 minutes of the day, the traders came back in and bought and that generated a 24% rise from the low to the closing price. One important thing that did happen is that on Thursday, the stock closed at .735 and the 200-day MA is at .734, and then closed at .79 on Friday, meaning that now there is a definite successful retest of the MA line. With the traders having gotten rid of all the stops below, there is no reason for any further downside, meaning the stock should move up consistently from here. Any daily close above .83 will confirm the retest of the MA as successful. Any drop below .64 would now be seen as a change of trend.

SNDL made a new 10-week low and closed on the low of the week, suggesting further downside below last week's low at 1.44 is expected to be seen. The stock broke a weekly close level of support at 1.58 that does erase the recent gains and puts the stock back into a sideways trading range. The reason for the weakness is that the company announced that they were consolidating their cultivation activities to one area, with the express purpose of increasing their ability to cultivate and profit from their operations. This could be a good thing for the future but for now, it means that they are not doing as good as they would like. There is no established support below until the 1.29 level is reached. Intraweek resistance is now found at 1.59, which if broken would likely cause the stock to rise to the 200-day MA, currently at 1.71.

TNC generated another red week and closed on the low of the week, suggesting further downside below last week's low at 73.80 will be seen this week. For the first time since Jan 14th, the stock closed below the 200-day MA, currently at 74.48 (closed at 73.82) and that is a negative sign. Pivotal intraweek support is found at 73.67 (73.72 on a daily closing basis), which if broken would generate open air below down to 72.60 and if that level is broken, the 200-week MA, currently at 71.37. would be the next target. There is intraweek support at 70.14 but if that gets broken, there is absolutely no support below until 66.73 is reached. There is one magnet below that is found on the daily chart in the form of an open gap up (from a previous positive earnings report) between 66.89 and 70.00. Closure of the gap is a low probability event as it was a tangibly positive piece of news that is not going to get negated unless a negative piece of news comes out, "or" the indexes break down. The gap was tested when the 72.69 low was made thereafter and a retest of that retest is highly probable. Bottom line, it is likely that a drop down below 73.00 will occur this week and taking profits should be considered. If the 72.69 level is broken, a drop down near the $70 level is then likely to be seen but unless the indexes break down, profits "should be taken" at that moment. The 75.26 level is now a short-term indicative resistance area.

VWDRY generated a totally uneventful inside week and closed exactly in the middle of the week's trading range, suggesting equal chances of going above last week's high at 6.89 than below last week's low at 6.57. Nonetheless, the stock now shows a successful retest of the recent low at 6.23 with the 6.57 low that occurred on Thursday, followed by the rally and green daily close above Thursday's high that occurred on Friday. That slightly favors the bulls. Pivotal intraweek resistance is found at 7.08 and short-term pivotal at 6.57. The company reports earnings on the 31st so the traders are not likely to do much this week.

ZLAB generated an uneventful inside week but given that the Chinese market had an indicative down week, it has to be seen as a positive. In addition, the stock is showing indicative short-term weekly close support at 23.75 and on Friday, the stock spent half a day trading below that level (had a low on Friday at 23.51). In the end, the stock closed at 23.91, meaning the support held up. Nonetheless, the stock did close near the low of the week and further downside below last week's low at 23.33 is expected to be seen this week. Pivotal intraweek support is found at 22.35 and pivotal resistance is found at 25.83. The stock reports earnings on Nov 7th and it is unlikely that the bears will have any success unless the Chinese market takes a big drop from here.