AMZN reported earnings and they were better than expected and the stock rallied 6% in value from the low of the week. The stock closed on the high of the week and further upside above last week's high at 187.87 is expected to be seen this week. The stock did make a new all-time weekly closing high at 186.21 (above the previous high made 4 weeks ago), and above the previous all-time high made 10 months ago at 185.97. Nonetheless, the bulls failed to make a new all-time intraweek high as that is at 189.77 and that is still $2.10 above the high made last week. Having said that though, the bulls have failed to make a statement that the bull trend will continue as the new all-time weekly closing highs have only been a few cents higher, in spite of the good earnings report that came out this week and the rally in the index market. The stock did gap up on Friday (from 185.10) but then closed on the lower half of the day's trading range, suggesting further downside below Friday's low at 185.42 will be seen on Monday. If the stock closes red on Monday, a successful retest of the all-time daily closing high at 189.07 will have occurred and if by any chance a close below the most recent high daily close at 180.96 occurs, a failure signal against the bulls will be given. The bulls are now committed to making a new all-time high (it is a sink or swim situation). Evidently, the stock needs the overall market to go higher to be able to accomplish it. Based on the recent action and on the bullish earnings report, the short positions should have been (or should be) covered. Nonetheless, I waited for this week to make that decision and it is likely that decision will be made on Monday before the close.

BABA made a new 6-month intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 81.42 will be seen this week. The stock generated a failure signal against the bears, having closed above the previous weekly close support at 79.62, meaning that the breakdown that occurred in November has now been negated. More importantly, the downtrend that started in October 2020 (from a high of 304.69) and that ended in October 2022, now shows 2 successful retests of it and that suggests that a short-term uptrend could begin shortly. To do that, the bulls need to generate a weekly close above 85.31. If that occurs and is confirmed, a rally up to the $95-$98 level would likely be seen over the following 2-4 months. This breakout is not likely to occur this week or the next but could occur before the end of the month. As a matter of information, the stock could get up to the $113 level over the next 6 months and if that level is broken on a monthly closing basis, A longer term uptrend will being and have as an objective, a rally back up to the $200 level (which could be seen over the next couple of years). As for as this week, the bulls must now stay above (on a daily and weekly closing basis) the $80 demilitarized zone (79.70-80.30). The 200-day MA is currently at 80.00 and there is short-term pivotal daily close support at 79.84 and pivotal at 78.23. If a weekly close now occurs below 77.51, all of this accomplishment by the bulls will be erased.

DD reported earnings this week and they were much better than expected and a new 27-month intraweek and daily closing highs were made. Nonetheless, the bulls were unable to confirm that breakout on the weekly closing chart, having closed on Friday below the previous weekly closing high made in August at 77.97 (closed at 77.67). The stock did close near the high of the week and further upside above last week's high at 79.19 is expected to be seen this week. There is established intraweek resistance at 80.50 (minor) and at 81.57 (minor to decent) that could be seen this week. Having said that, the failure to confirm the breakout on the weekly closing chart is a glaring sign of weakness, especially considering that the earnings report was so much better than expected. Simply stated, there was no reason for the weekly close failure. The first course of action for the week is likely to be to the downside as the stock closed on the lower half of Friday's trading range. Testing of the gap down at 76.16 is likely to be the objective. There is no established intraweek support until 75.41 (old support) and more recent and more important at 74.92. If the latter is broken, closure of the gap at 72.42 would be the target and that certainly would take away whatever ammunition that the bulls obtained from the earnings report. The stock was shorted at 76.80 and it is a tough call on what action to take this week. Evidently if the stock gets above 81.57, the short will need to be covered but anything less than that is a difficult thing to decide on. Each person will need to make their own decision on this. I have given you the chart parameters in play for this week.

ENG continued to trade in a totally sideways fashion and this past week, the stock had a minute $.11 cent trading range that was not indicative in any way. It is expected that the company will report earnings on Thursday but as has been the case with this company in the past, that date is not "set in stone". The same pivotal levels of support and resistance at 1.35 and 2.23 remain in place. If no earnings report is announced, it is doubtful anything new will happen. It is a somewhat pivotal earnings report as it was announced 6 weeks ago that the company was making changes of consequence to negate the negatives of the past 16 months. Those changes should begin to show whether they will help or hurt the company.

GCI reported earnings and they were better than expected and a new 9-month intraweek and weekly closing high was made. The stock closed on the high of the week and further upside above last week's high at 3.22 is expected to be seen this week. The 200-week MA is currently at 3.33 and a midterm pivotal intraweek resistance level is found at 3.60 (3.43 on a weekly closing basis and 3.52 on a daily closing basis), which if broken would offer open air to 4.46. To the downside, daily close support is found at 2.72, which if broken would negate this move up. With the better-than-expected earnings (which gives the bulls tangible ammunition), the bulls are somewhat committed to break the above resistance levels this week. If those are not broken "this week", it will not be a big negative but it would delay the breakout for another 3-6 (or more) weeks as it would mean more work needs to be done over the next few weeks in order to build more (and near) support so that the MA can be broken. MA's are always important levels that normally take 2-3 attempts before breakage occurs (if it is to occur), which means that if the bulls want to make a statement off of this earnings report, they need to do it this week.

JD generated another new 6-month intraweek high and closed on the high of the week, suggesting further upside above last week's high at 32.94 will be seen this week. In addition and on a positive note, the breakout above the 200-day MA (currently at 28.23) was tested successfully on Wednesday, meaning that line is now important support from here on in. Having said that, the bulls were not able to make a longer-term statement as they closed on Friday just below a pivotal weekly close support at 33.10 (closed at 32.87), from which (when broken) caused the stock to drop all the way down to 20.82. A close above that level this Friday would be a statement of longer term uptrend occurring. A red close on Friday would suggest that the MA would once again be tested and a process of building a new support level would be occurring, which would take weeks to build. If the stock closes above 33.10 on Friday, a rally to the 40.68 level would likely occur and the 33.10 level would then become the new weekly close support. As such, this week is very short-term important to the stock. The bulls do have the upper hand, given that on the daily closing chart, that same level of weekly close support at 33.10 is at 32.10 and having closed at 32.87 on Friday, it can be said that the level was broken. Nonetheless, that does mean that the 32.10 level is now a daily close support level that if broken, the stock will head down but if not broken, the stock will continue higher the rest of the week.

LXRX generated a positive reversal week, having made a new 14-week low but then going above the previous week's high and closing green. The stock also gave a "small' buy signal, having generated a daily close above the previous daily closing high at 1.71 (closed on Friday at 1.74). Having said that, the company reported earnings on Friday and they were "as expected" with no surprises. The initial reaction was positive and a 2.02 high was made, but then as the day progressed, the stock fell back and closed on the exact middle of the day's trading range, meaning there are equal chances of going below last week's low at 1.48 than above last week's high at 2.02. The reason for the fall back is that one of the rating companies reiterated their "hold" rating on the company and that disinflated the rally. Having said that, the green weekly close is a positive as it confirmed that the original weekly close breakout from December at 1.53 has been retested successfully with the weekly close the previous week at 1.58. This will give the bulls new ammunition for some recovery rally to occur. A rally back up to 1.91 (on a weekly closing basis) is now highly likely to occur. A close above that level, would suggest further upside to 2.17 would be seen, and a close above that level would suggest that a rally back up to the 200-week MA, currently at 2.91 could occur. All of this action to be seen over the next 3 months until the next earnings report comes out. The 200-day MA, currently at 1.67, now is support (on a daily closing basis) and should not be broken if the above objectives are to be available. The earnings report does give the bulls the edge for the short-term.

SNDL made a new 18-month weekly closing high and did close near the high of the week, suggesting further upside above last week's high at 2.52 will be seen this week. The reason why this occurred is that the Federal Drug Enforcement Administration recommended this week that Mariguana should be taken down from a Scheduled "1" drug to a Scheduled "3" drug which means a less regulated drug. This is good news for the Cannabis industry in general and with this company being one of the strongest in the industry, it does open the door for much further upside. There is open air above to the 3.00 to 3.13 level and if that level gets broken on a weekly closing basis, a rally to the 200-week MA, currently at 4.45 would then be likely. The previous weekly closing high is 2.20 and that is now the new support, which should hold up as long as the recommendation of the FDA does not get refused. In using the daily closing chart, this week is quite important. There is pivotal resistance at 2.50 and now pivotal support at 2.19.

VWDRY generated a negative reversal week, having made a new 3-week high but then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 8.40 will be seen this week. The company reported earnings and they were less than expected and the stock dropped 7% in value. Having said that, full-year expectations were not affected and the outlook overall remains bullish. As such, the earnings report did not cause the stock to make a new low on this recent downtrend and that has to be seen as a positive. The recent intraweek low is at 8.28 and given that it was a new 24-week low, chart-wise it requires/needs a successful retest of it before new buying comes in. As such, that is what the traders are likely looking to achieve this week. On a positive note, the stock did break the 200-day MA, currently at 8.52, on Thursday (the day the report came out) but negated that break on Friday, having closed above it. As such, if the 8.40 low is broken on Monday (or any day this week), it will probably be on an intraweek basis only. Short-term pivotal intraweek resistance is found at 9.07/9.13, which if broken would offer a minimum objective of 9.50. The 200-week MA is currently at 10.07, and that could be the objective to be reached over the next 4-6 weeks. If the 8.28 level is broken, there is established intraweek support at 8.08. It is doubtful that level will be broken. This does suggest that until the next earnings report or news comes out (of which this company is receiving consistently), the overall trading range could be $8-$10.

ZLAB generated another green weekly close but then closed in the lower half of the week's trading range, suggesting further downside below last week's low at 15.67 will be seen this week. If that does occur, it would likely be the required/needed retest of the all-time intraweek low at 13.48. The stock does show an open gap at 14.23 that would be the downside objective (if the stock does goes below last week's low). Nonetheless, the company reports earnings after the close on Wednesday and it is unlikely the gap will be closed before then and if the earnings report is better than expected, it would be highly likely that another gap up would be created making a breakaway/runaway gap formation that would offer an immediate upside to above the $21 level. The company did announce this past week that no further selling of shares would be done by the principals of the company. In addition, the bulls were able to generate a break of the most recent intraweek high, suggesting that a bottom might now be set. The bulls were not able to generate a buy signal on the daily closing chart, given that the bulls failed to close above 16.72 but that level will be pivotal daily close resistance all week. Daily close support is presently at 15.80 and if that level holds up until the earnings report, it will likely mean that the earnings report is likely to be better than expected. Nonetheless, with the news given, the extremely low price the stock is trading at, and the fact that all rating companies have the stock as a buy at this price, only a negative earnings report would cause the recent low to be tested. Even then, the probabilities do not favor a new all-time low to be made.