BTZI, in only 1 week, totally negated the big sell signal given 3 weeks ago and confirmed the previous week. The stock generated a positive reversal week and a weekly close above the previous all-time low weekly at .026, above the previous 56-week low at .037, as well as above the most recent low weekly close at .047, which was set in September and had been the support for 2 months before being broken. The negation of all 3 of those breaks is a statement that suggests the break that occurred was pure manipulation and not indicative of what the future is to bring to the stock. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at .08 will be seen this week. The .083 level (.078 on a weekly closing basis) is pivotal intraweek resistance, which if broken offers open air to the .014 level. The 200-day MA is currently at .0826, meaning that entire area is clearly the battleground where the fight will be decided. Daily close support is found at .046 and again at 0394. A break of both, would be a negative sign, especially now that the bulls were able to accomplish what they accomplished this past week. On a possible negative note, the stock is "somewhat tied in" to what Bitcoin does and Bitcoin has given notice that its bull run is over and that it is likely in a sideways phase. If so, and the stock reacts to that, it is likely that the stock will get into a sideways phase itself between .046 and .078 (based on daily closes) for the foreseeable future.

CALM made a new 6-week intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 35.60 will be seen this week. This move down means that the stock remains in a midterm sideways market with no outlook for a breakout anytime soon. Downside objective is somewhere between a minimum of 35.43 and a likely maximum of 35.09 without any change in the chart. A break below the intraweek support at 34.29 will weaken the chart and give the bears a clear edge. A break above 38.09 resistance will do the exact opposite. Probable trading range for the rest of the year (December) is between 35.09 and 37.23.

CHUY generated a new 10+ month intraweek and weekly closing low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 26.88 is likely to be seen this week. Nonetheless, the 200-week MA is currently at 26.43 and that is a line that has not been broken for the past 53 weeks and unlikely to be broken unless the index market continues lower. The new multi-month weekly closing low is worrisome but then again, the stock has done that on 3 previous occasions over the past 3 months and on every occasion before it recovered immediately (on a weekly closing basis). It is important to note that the index market is facing an important week where a break is possible and if that happens, the stock is likely to continue lower. Nonetheless and on the index market, probabilities do not favor the bears. There is intraweek support at 24.85, which if broken would give the bears total control. In order to negate this break, the bulls need to generate a daily close above 29.47 this week. A close above that level will suggest the stock is to continue the pattern seen the past 3 months with a rally immediately after the break of support.

ENG made a new 55-week intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 1.58 will be seen this week. The break of all the supports built since the November 2020 breakout is a strong negative, meaning there is no buying interest at this time. Nonetheless and on a possible positive note, the stock has reached the 200-week MA, currently at 1.58, and that line represents the long-term prospects for the stock and given there has been no fundamental changes seen, it is unlikely to be broken. A green weekly close next Friday would suggest the worst is over and some recovery likely to be seen. On the other side, this break means the bulls have no reason to buy at this time. On a daily closing basis, the 1,80 level is now resistance that needs to be broken for any recovery rally to begin. Following this stock for years and seeing how it normally acts, the probabilities favor it trading between 1.58 and 1.80 (based on daily closes) for the rest of the year. The 1.58 level does not only represent the 200-week MA but also a decent and pivotal daily close support. Probabilities favor the bulls this week but for a limited gain. IDCC generated another red weekly close (the 3rd in a row) but it was relatively uneventful given that it only closed $.03 cents below the previous week's close. The stock did close near the low of the week, suggesting further downside below last week's low at 66.55 will be seen this week. On a positive note, the stock remains above the 200-week MA, currently at 65.97, is a positive, especially considering the weakness seen in the index market. Pivotal intraweek support is found at 65.79, which if broken will likely change the chart picture to short-midterm negatve. Resistance is now found at 69.74 and that resistance is further strengthened by the 200-day MA, which is currently at 70.08. Two daily closes in a row above 70.08 would be a positive note that would likely generate new buying interest. Stop losses should remain at 65.65.

MRGE made a new all-time intraweek low at .0001 but the break was not confirmed when the stock rallied to close at .0499, which is within the established support area between .048 and .052 that has been seen on 4 other occasions during the past 44 months. The stock did close in the upper half of the week's trading range, suggesting further upside above last week's high at .07 will be seen this week. The move down this week is much like what happened to BTZI on its move to all-time lows. Both of these stocks are penny stocks and any kind of strong liquidation of positions by any one trader can generate wild moves that are mostly meaningless to the long term. Nonetheless, the bulls do need to generate a green weekly close next Friday because a red close below .048 will weaken the chart substantially.

NEM generated a new 17-month intraweek low but then the bears failed to confirm the break, having closed out the week above the two most recent low weekly closes at 53.56 and at 54.00 (closed on Friday at 54.67). As such, the stock continues to look supported and if a green close occurs next Friday, the 53.36 weekly close support will have 2 successful retests of it, which would likely give the bulls some new ammunition. The stock did close slightly in the upper half of the week's trading range, suggesting a higher chance of going above last week's high at 56.52 than going below last week's low at 52.60. It must be mentioned that the intraweek low for the past 19 months is at 52.33 and that is also the level from which the breakout occurred that took the stock up to the $75 level, meaning that this area is extremely pivotal for the future of the stock. If the bulls can get the stock above last week's high this week and generate a green weekly close next Friday, the chart will be "totally fulfilled" to the downside and the traders will start to focus on upside objectives. If this level breaks, the overall long term trend will change as well.

QTWO generated a break of consequence this past week given that it not only made a new 19-month intraweek and weekly closing low but broke the 200-week MA (currently at 79.78, which is a line that has never been broken on a weekly closing basis since the inception of the stock in 2014. In addition to the break, a new sell signal was generated when the stock closed on Friday below the previous low weekly close at 76.28. There was no new news to support the break but it was reported that insider selling was what caused the drop. In looking at the volume, it did double on Friday over the volume the previous 4 days. The stock was downgraded 4 weeks ago but it was still considered a buy given that the downgrade was a price-wise drop in upside objective from $105 down to $100. If it was insider selling (in conjunction with the indexes selling off) that caused the drop, it is possible the break will be negated this week. Nonetheless, such a chart break of a pivotal line does do chart damage, meaning that the stock is no longer a dependable purchase. There is no intraweek support below until 67.60 is reached. With the stock closing on the low of the week, further downside below last week's low at 71.29 is expected to be seen this week. On a possible positive note and since there was no fundamental change to the stock, a break of such an important line as the 200-week MA is, the probabilities are high that the line will be retested within the next 2-3 weeks, meaning that liquidation at this time should not be considered unless the entire index market breaks down. On a weekly closing basis, resistance will now be found at 76.28 but intraweek there is no resistance 81.61 is reached. By the same token, the bulls will need a daily close above 73.80 to accomplish an attempt to go higher.

SNDL, like many other stocks, made a new multi-month intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at .0551 will be seen this week. There is no intraweek support found until the .50 level is reached. That support is pivotal, given that if broken, the .40 level would be the next target. Daily close resistance is now found at .0634. Two daily closes in a row above that level would negate this break. Nonetheless and with all Cannabis stock under sell pressure and breaking down, there is little positives that can be expected at this time. On a daily closing basis, there is decent support at .56 and with the stock closing at .564 on Friday, a green close on Monday would be short-term supportive. The probabilities favor the stock trading between .56 and .634 (based on daily closes) for the rest of the month.

SRUTF was able to generate a green weekly close, negating the technical break of weekly close at .0284 that occurred last week when the stock closed at .028. If another green weekly close occurs next Friday, a double bottom will be created, which would be supportive for the stock. The .036 level is now pivotal daily close resistance. A close above that level would mean the downside is over. The stock has done like for the past few months though there has been a slight negative bias. If a double bottom is confirmed the negative bias will likely go away. By the same token and until the Cannabis market start to move up, the probabilities of a sideways market being seen are high. ZLAB continued the downtrend, having made another new 17-month intraweek and weekly closing low and another red weekly close (the 5th in a row and the 12th out of the last 13 weeks). All intraweek support levels of any consequence have now been broken and there is only minor levels of intraweek support below (at 62.89 and at 58.59). The stock did close on the low of the week and further downside below last week's low at 64..01 is expected to be seen. Nonetheless, no negative fundamental news has come out to support these price levels and more importantly, the stock got down to the 200-week MA currently at 67.36 this past week. The stock did close below that level (closed at 65.37) but if a green close occurs next Friday and above 67.36, it will be seen as a successful retest of the line. By the same token, another red close next Friday would confirm the break and that would change the chart totally into a no longer long-term bull market. There was some good news on Friday morning as it was officially announced that one of their cancer drugs has been put on the national reimbursement list, meaning that it can officially be used by the doctors and they will be reimbursed by the medical insurance companies. It did not make a difference to the price on Friday but then again all index markets were under pressure that day. I do have to believe that reaching this long-term important MA line will make a difference but now the bulls need to prove that it will.