BABA generated a spike up rally this past week, having increased in value 8.6% (from the previous week's close). The stock did close on the high of the week, suggesting further upside above last week's high at 76.93 will be seen this week. The bulls came very close to a breakout of note, given that the 75.96 level has been the high weekly close for the past 17 weeks and the stock closed on Friday at 75.55. A close above that level this Friday, would be a strong positive. Having said that, the green close means that the stock now shows a double low weekly close at 69.42/69.07, which does strengthen the chart substantially and also means that it is now a very important and pivotal weekly close support level. On a daily closing basis, the stock did generate a new buy signal, having closed above the 6-week high daily close at 74.85. The bulls are facing a strong daily close resistance area between 76.39 and 78.23 and then if they can break that level, they will again face a very important area of daily close resistance around the $80 level, which does include the 200-day MA, currently at 80.40. Nonetheless, if the bulls are able to close above the 79.55 level on "Tuesday" (end of the month), it will generate a failure signal of consequence (against the bears) on the monthly closing chart, which would suggest that the 42-month downtrend is over and that a recovery rally up to at least the $100 level would occur over the next couple of months. Daily close support is now found between 71.37 and 72.04, which if broken would be a signal that this rally has failed and a reason for considering to get out of the positions held.

DD generated an uneventful inside week with a close slightly in the upper half of the week's trading range, suggesting a slightly higher chance of going above last week's high at 74.36 than going below last week's low at 72.80. Nonetheless, the stock did make a new 6-week weekly closing low and the bears maintain the short-term edge. During the last 10 days, the stock has maintained itself above the 200-day MA, currently at 73.02, but given that the bulls have been unable to generate any big and indicative bounce off of that line (in spite of the indexes rallying), does give the bears the overall edge. A confirmed close below that line, will offer open air down to the $70 level and given that the support there is not strong, a drop as low as $67 could occur. On a short-term basis, any daily close above 73.91 would probably generate a rally back up to the 75.50 level. Any close on Tuesday (monthly close) below 76.67 would be a positive for the bears.

ENG continued to trade in a totally sideways fashion and in a small trading range with extremely low volume. In fact, it has been the smallest trading range and the lowest volume in at least the past 10 years. The monthly close is on Tuesday and there are two levels (one support and one resistance) at 1.35 and 2.23 that are not likely to be seen or reached, meaning that for now, the stock remains without any short-term direction. The 1.72/1.75 level has been a somewhat short pivot point (in both the daily and weekly closing charts) during the past 2 months and the stock closed on Friday at 1.68, meaning that for the present time, the bears have a small edge. Nonetheless, nothing is likely to happen until some news comes out. The earnings report is due out on May 9th (in 2 weeks) and that could be a catalyst. Nonetheless, this company has had a habit on not reporting when the report is due out. Having said that, I have no other comment on the stock at this time.

GCI generated a negative reversal week, having made a new 7-month intraweek high but then closing red and near the low of the week, suggesting further downside below last week's low at 2.51 will be seen this week. Nonetheless and in looking at the weekly closing chart, it was an uneventful week as the weekly close pivot point resistance at 2.59, which was "technically" broken the previous week with a close at 2.60, and now giving a "technical" failure signal with a close at 2.58. Technical breakouts of failures by $.01 cent are not dependable. The company will be reporting earnings on Thursday (May 2nd) and that is likely to be pivotal. On a short-term basis, the stock gapped down on Thursday and that gap was not supported with news, meaning it will likely be closed this week. The gap is up at 2.69 and if the bulls can generate a confirmed daily close above that level, they will get the edge back. There is presently some intraweek support at 2.49, which should not get broken this week, unless the earnings report is negative.

JD generated an indicative breakout this past week, having made a new 6-month intraweek high and breaking convincingly above the 200-day MA, currently at 28.40 (closed on Friday at 30.34). The reason for the breakout is that Goldman Sachs started coverage on the stock with a buy rating and a target of $37. The company will be reporting earnings on May 16th and until then, this breakout is likely to remain. The stock did close on the high of the week, suggesting further upside above last week's high at 30.46 will be seen this week. Having said that though, the stock does show intraweek resistance at 30.80 and more importantly, weekly close resistance at 30.34. This means that if the stock does generate a red weekly close this Friday, that a retest of the breakout of the 200-day MA, is likely to be seen over the next few weeks (until the earnings report comes out). By the same token, if the 30.80 intraweek high is broken and the stock generates a green weekly close next Friday, there is open air above to the $34 level.

LXRX generated another red close week, having made a new 13-week intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 1.52 will be seen this week. There has been no negative news on the company, meaning that this drop is basically chart-oriented. The initial breakout level on the weekly closing chart is at 1.53 and it is now evident that level is going to be retested. If the retest is successful, a rally back up to at least the 2.50 (and up to 2.75) is likely to occur over the next few weeks, or until the next earnings report the second week of May. The probabilities do favor the stock holding above the 1.53 level (on a weekly closing basis) and moving back up. Nonetheless and on an intraweek basis, it is possible for the stock to get down to as much as the 1.31 level. On a short-term intraweek basis, the 1.93 level is pivotal.

SNDL bears failed to generate further downside this past week (after closing near the low the previous week) and did generate a green weekly close and a close near the high of the week, suggesting further upside above lst week's high at 2.08 will be seen this week. This green close suggests that the previous week's close at 1.87 has become a successful retest of a previous high weekly close at 1.81 and from which a rally to 2.36 occurred. The action seen is a decent positive, meaning that the bears have not gained their short-term edge back. The company reports earnings on May 9th, so it is unlikely that a break of the recently established weekly closing high at 2.20 will be broken (2.36-2.48 on an intraweek basis) but getting up to that area is likely to be seen. As such and for the next 9 trading days, the stock is likely to trade between 1.90 and 2.36.

VWDRY generated a green weekly close and closed near the high of the week, suggesting further upside above last week's high at 8.85 will be seen this week. Tuesday is the monthly close and presently the stock is having a 4th red monthly close in a row, but if the bulls are able to close out the month above 8.76 (closed on Friday at 8.74), and especially if they can close out the month at 8.96 (or higher), these 4 red months will lose their negativity and simply become a needed/required retest of an important low month close support after the breakout that occurred in December (if an when a green monthly close occurs in May). In looking at the daily chart, it was a positive week for the bulls, given that the break of the 200-day MA, currently at 8.53, was negated this past week with closes above the line every day of the week. Pivotal intraweek resistance is found at 9.53 but on a daily closing basis, a close above 8.98 would give the edge back to the bulls and open the door for almost an immediate rally up to 9.50 level. Any daily close below 8.29 would now be a strong negative. The company reports earnings on May 8th.

ZLAB accomplished generating a failure signal against the bears, having closed on Friday above the previous all-time low weekly close at 15.70 (closed at 15.91). If the bulls can accomplish doing the same on Tuesday (monthly close) and close above 16.36, a statement will be made that a bottom has been built at 13.48. The stock did close on the high of the week, suggesting further upside above last week's high at 16.12 will be seen this week. In looking at the daily chart, the bulls still need to do more to establish the bottom. There is established (though minor) intraweek resistance at 16.13 and again at 16.73. A break of the former would be a positive and a break of the latter would be a statement. Given that it is expected that the stock will go above last week's high, the former is likely to happen. A break of the latter is what is still not clear whether the bulls can make it happen. The company reports earnings on May 8th and that is going to be a pivotal report. One somewhat troubling chart reality is that there is an open gap down at 14.23, which will be targeted if the bulls are unable to break the resistance levels mentioned above. By the same token, if another gap appears, that would have the opposite effect. In considering the gap below, if the now built intraweek support at 15.05 is broken, the gap will become an immediate magnet. On the opposite side, if 16.73 is broken, a breakaway/runaway gap formation is likely to occur. This earnings report is of major importance and that is only 8 days away.