AXP generated an uneventful inside week but did close red and near the low of week, suggesting further downside below last week's low at 285.39 will be seen this week. This is one of the stocks that received a strong boost from the Trump win, meaning there is fundamental support existing. The stock did gap up after the win was announced, meaning the gap is indicative. With the gap being between 276.18 and 284.65 and the previous all-time daily closing high being at 285.78, those levels are all in play this week and are indicative. A confirmed daily close below 285.78 will give some ammunition to the bears and certainly a closure of the gap would erase the rally totally. The bulls maintain control, so neither is probable. A intraweek/intraday drop down to 284.65 is a high probability but thereafter, it is unknown at this time whether more downside will occur or not. If all of these levels hold up in the first 3 days of the week, the probability of the rally continuing to new all-time highs will be high.

BCTX continued the recent down move, having made a new 7-week intraweek and weekly closing low and closed near the low of the week, suggesting that further downside below last week's low at .568 will be seen this week. Having said that, the stock is now near an intraweek support area of note at .526 that is likely to hold up, given that there has been no new fundamental news on the company and this stock not being sensitive to the new administration. On a daily closing basis there is support at .553 and on a weekly closing basis, there is support at .563. This does suggest that this week could generate some new buying interest and the beginning of a move back up. Any green close next Friday or two daily closes above the .70 level would give the bulls new ammunition. On an intraday basis, a confirmed 10-minute close above .63 would suggest the downside is over.

IBM generated a red week and closed near the low of the week, suggesting further downside below last week's low at 204.07 will be seen this week. The chart action showed that at present, the bears are in short-term control and that a drop down to the previous all-time weekly closing high at 195.95 is a high probability. The 200-day MA is currently at 191.72 and that has now become a clear objective to be reached during the next week or two. If that level is reached, taking profits should be considered because a rally back up to at least the $200 level would likely occur. In addition, short positions at this time (until Trump takes office) are not high probability trades. A rally above last week's high at 216.70 would change the short-term outlook.

LXRX reported earnings this past week and they were lower than expected and the stock made a new all-time weekly closing low at .975 (below the previous one at 1.01). The stock closed on the low of the week, suggesting further downside below last week's low at .97 will be seen this week. On an intraweek basis, the all-time low is at .92 and given that the rating on the company has not changed (remains a bullish buy with the 10 rating companies that follow the stock, with H.C. Wainwright % Co, reiterating its buy rating after the earnings report with a $6 objective), probabilities do not favor the level breaking. On a daily closing basis, any confirmed daily close above 1.01 would take some of the selling pressure off and a daily close above 1.30 would generate a buy signal. An intraweek drop below .92 would further weaken the chart.

SNDL made a new 4-month weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 1.94 will be seen. This stock has seen some selling come in since the Trump win as it is a Cannabis stock and Trump has never stated any support for that industry, unlike the support that has been there with the Democrats (in general). Having said that, the new 4-month low did not break anything of consequence, given that on a weekly closing basis and since May, the trading range has been between 1.82 and 2.24. Having said that, the stock is at a short-term pivotal level as the 200-day MA is currently at 1.97 and the stock closed on Friday at 1.95. If this break is confirmed with a daily close below 1.92, a drop down to at least the 1.82 level would be seen. A daily close above 2.00 would take the selling pressure off.

VWDRY made a new 56-month intraweek and weekly closing low this past week but there was some buying interest seen as the stock got down as low as 4.61 but the closed near the high of the week, suggesting further upside above last week's high at 4.93 will be seen this week. The action (though red) was an indication that perhaps a low to this move down (due to Trump's win) may be over. On a weekly closing basis, there is important and pivotal support at 4.77 and the stock traded below that level on Tuesday, Wednesday and Thursday, but in the end, the bears were not able to break that level. It should be noted than on both the daily and weekly charts, there is absolutely no (zero) resistance above until the 5.94-6.00 level is reached, meaning that chart-wise, the stock could run up as much as 22% without a problem. In looking at the chart the last time it traded here (back in the early 2020's), a rally back up to the $7 level is what happened. Unfortunately, the fundamental picture of green energy stocks is not rosy under the Trump administration, meaning it is difficult to predict what the stock will do. An intraweek break below 4.50 would be destructive to the chart.

ZLAB generated a negative reversal week, having gone above the previous week's high and then closing below the previous week's low. The stock closed on the low of the week and further downside below last week's low at 26.47 is expected to be seen this week. The fundamental reason for the drop in price is that the company offered a new $200 million offering at 25.50 per share and that means that the 25.50 level is a magnet right now. By the same token, when the offering is done, the 25.50 level will not only become a strong support level but the money raised from the offering will give reasons for new buying interest to appear as the money will be used to promote their products from here on in. Chart-wise, there is intraweek support at 24.94, that based on the news should hold up. The 31.22 level is now resistance and a rally above 32.48 would mean this move down is over.