BABA generated another red weekly close (the 4th in a row) and closed on the low of the week, suggesting further downside below last week's low at 72.04 will be seen this week. Having said that, the stock has only fallen a total of 3.3% (from 74.62 to 72.13) over this period of time, and in doing so, no sell signals have been given. The 71.04 level remains short-term pivotal support and based on the base building action seen during the past 2 months, the probabilities of a break of support are very low. To the upside, a move above 74.74 would be a short-term positive and a break above 78.34 would confirm that a bottom has been found and a recovery of some consequence to be seen.

ENG generated another red weekly close (the 3rd in a row) but it was only by $.01 cent and as such, not indicative. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 1.60 will be seen this week. The next support level is found at the 1.40-1.43 level, but the way the stock has been acting, that is not likely to be seen and much less broken. Short term pivotal resistance is now found at 1.84 but the 1.75 level (on a daily or weekly closing basis) is indicative. At this time though, it does not seem that the bulls or the bears are going to be successful.

GCI generated spike up rally in which a new buy signal, as well as a failure-signal-against-the-bears was given on the daily closing chart. The stock closed on the high of the week, suggesting further upside above last week's high at 2.28 will be seen this week. There is now open air up to the 2.40 level, which if broken on a daily closing basis, will be short-term indicative given that the 200-day MA, currently at 2.39, will be broken, as well as a minor intraweek resistance at that level. The 2.62/2.63 level shows a double high resistance, which if broken would be a game changer. It would open the door for a rally up to 3.28, which is where the 200-week MA is currently at, and it would also confirm that the 30-month downtrend is over. Pivotal support is now found at 1.95, meaning that the stop loss can now be raised from 1.60 to 1.85.

GILD generated follow through to the downside (after last week's negative reversal) and closed on the low of the week, suggesting further downside below last week's low at 72.56 will be seen this week. This is definitely an important week for the stock, given that the 200-week MA is currently at 70.99 and that line is now showing 2 successful retest of it on the weekly closing chart. If a green close occurs next Friday, there would then be 3 successful retests of the line. If that is followed by a break of the previous week's high weekly close at 75.12, it would mean the recent downtrend is over and would stimulate a strong short-covering rally that would offer a minimum rally up to $81-$83 area. Any daily close below 71.58 would give new ammunition to the bears and any weekly close below the MA line, would generate a strong mid-to-long-term trend change. In looking at the overall action seen this past week, the bears presently have a small edge. As such, the stock needs to be monitored closely this week.

JD generated an uneventful inside week but did close red and on the low of the week, suggesting further downside below last week's low at 26.5 will be seen this week. The red weekly close keeps the stock in a downtrend in spite of the better-than-expected earnings report 3 weeks ago. By the same token, The stock is in the process of building a bottom to the downtrend and a retest of the double bottom at 20.82/21.18 is required/needed. As such, a drop down to the now established support between 24.01 and 24.66 is expected. If that level holds up and the stock rallies from it thereafter, the bottom will become established and a short-covering rally will then ensue. Pivotal to the trend resistance level is at 29.27, which if broken would mean the downtrend is over and a rally to $40 would then likely be seen. On a daily closing basis, there is support at 25.18 and pivotal at 23.99. As such, this week is likely to be mostly red with the stock having closed on Friday at 26.50. Nonetheless, the outlook thereafter is positive.

LXRX generated a red week, meaning that the previous week is now a successful retest of the 200-week MA, currently at 2.91. As such, the bears still have the edge. It was a disappointing week as the bulls were supposed to get above the previous week's high and get to the MA, but they failed to do so and now the recent low at 2.09 is at risk of getting broken and generating a drop down to the 1.71-1.87 level. The monthly chart (which ends this Friday) suggests that a drop below last month's low at 1.85 will occur. Such a drop would not necessarily be a negative as the .92 low seen in November has not yet had a required/needed retest of it, on the monthly chart. As such, a drop down to 1.71 is probably going to happen, if not this month, then at the beginning of next month. The only way the bulls can prevent such a scenario is by closing above the 200-week MA, on a confirmed basis.

SIMO appreciated an additional 10% in value this past week(using the previous week's close and last week's intraweek high). The stock did see selling interest come in at the $80 level as it got to 80.60 on Thursday and immediately backed off to close the day at 78.15 and then generated a red day on Friday. Having said that, the stock still closed in the upper half of the week's trading range, suggesting further upside above 80.60 will be seen this week. The backing off the high, probably had to do with the gap that was created on Thursday from 76.25, which was not supported with news. As such, closure of the gap is likely to occur in the first day or two of the week and then further upside seen. The objective of the mention was the $81-$83 level, and it is possible that level could be seen this week. Consideration should be given to taking profits then, and buying back on a correction. Unfortunately, there is no close-by support, meaning that the bulls have to keep the momentum going forward (after the gap is closed).

SNDL generated a highly eventful week, having made a new 6-month high and breaking a 2-year 3-point downtrend line. The stock appreciated 18% in value just on Friday alone and this rally was supported by news (better than expected earnings, as well as announced lower restrictions on Cannabis products in Germany). As such, this is a true breakout, that is also supported by new movement in the U.S. to talk about taking restrictions away from Cannabis in the U.S. This is a stock that just 5 years ago was trading at $132, meaning that if Cannabis restrictions are further cut down here in the U.S., this stock could go a long way. Nonetheless and on a shorter-term basis, the next level on an intraweek basis is at 2.36 and the one after that is at 3.36 (3.13 on a weekly closing basis). Should that level get broken, the stock will get into an uptrend that could ultimately take the stock all the way up to the $13 level before the end of the year. Based on the positive fundamental news, it is unlikely that any weakness will be seen but any confirmed daily close below the 200-day MA, currently at 1.53, would tend to defuse this breakout. Nonetheless, the established 2-year downtrend line is at 1.64 and the daily close breakout level is at 1.67, suggesting that level will not be broken on a daily closing basis. This is a stock to consider buying at this time.

TOL made another new all-time high this past week and that is the 5th week in a row of new all-time highs it has made. The stock closed in the upper half of the week's trading range and further upside above last week's high at 128.10 is expected to be seen. The stock has now generated 7 weeks in a row without a single week going below a previous week's low and that screams for some type of correction to begin soon. The stock did gap up on Thursday from 124.39 and the gap occurred because Oppenheimer raised their upside target to $157. That type of news does not support a gap being made, meaning that closure of the gap is likely to occur this week, and should be used to cover the shorts and take the loss on the trade. If by any chance the stock gets below 120.32, keeping the shorts can be considered. At this time though, that does not seem to be a viable possibility.

VWDRY generated a new 10-week intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 9.71 will be seen this week. The 200-week MA is currently at 10.02, intraweek resistance is at 10.18, and midterm pivotal resistance is at 10.62. Intraweek support is now found at 9.04. The end of the month is on Friday and a close above 9.69 would be a positive. The stock does show supportive fundamentals and chart action, but the question remains as to whether it is ready to breakout now or in a few weeks from now.

ZLAB continued to show weakness and ended up making a new 67-month intraweek and weekly closing low. The stock closed out the week at 16.18 and the all-time weekly closing low is 15.70. On a monthly closing basis (Friday), the all-time low is at 16.36. This does mean that this week is going to be highly indicative for the stock. The bulls need to make a statement as to what the short-to-midterm future of the stock is to be. Any daily close above 17.73 would generate a failure-to-follow-through signal against the bears. Any intraweek break below 14.29 would be strongly negative.