Starting this week, I will not be giving weekly updates on the penny stocks being held (BTZI, SNDL and SRUTF). These stocks are all "buy and hold" positions and the stocks have not been doing enough every week (a breakdown or a breakout) for me to continue to give weekly updates about. This is a situation that has now been going on for close to 3 months and therefore there has been nothing new to comment on every week. If and when these held stocks do something of note, I will immediately let you know. For now, there will be no weekly comments on them in the newsletter.

AU appreciated 12.9% in value this week and did close near the high of the week, suggesting further upside above last week's high at 25.40 will be seen this week. The minor to decent intraweek resistance at 23.85 was broken and now there are two intraweek resistance levels above left, at 25.75 (minor to perhaps decent) and at 26.77 (decent and mid-term pivotal). On a daily closing basis, there is short-term pivotal resistance at 25.73 and the nothing until midterm pivotal daily close resistance at 27.97. With Gold having generated an important break of resistance at $1914 and now facing a pivotal for the midterm daily close resistance at $1974, if that does occur, the stock is likely to follow. The 23.85 level of resistance on a daily closing basis, is now pivotal support. Probabilities favor the bulls.

CALM generated a new 31-month high weekly close and closed on the high of the week, suggesting further upside above last week's high at 45.26 will be seen this week. The objective of the mention at 45.43 is likely to be reached this week and consideration to taking profits should be done. Nonetheless, this stock is in the food business and with inflation continuing higher (and not likely to come down anytime soon), further upside is possible at this time. Pivotal daily close resistance is found at 46.45, which if broken would be a break of consequence that would likely generate a move up to the stronger and less likely-to-break resistance at $50. Support is now found at the $41 level, meaning that the decision to liquidate around 45.43 or not, will mean a possible 10% more appreciation in price versus a risk factor of also about 10%.

ENG appreciated an additional 20% in price, having closed $.26 cents above the previous week's close at 1.24. The stock closed near the high of the week and further upside above last week's close at 1.60 is expected to be seen this week. The 200-week MA is currently at 1.61, meaning that a close above that level would officially state that the downtrend is over and that a recovery rally of some consequence has likely begun. The company continues to receive positive news and the fact that it is a clean energy producer, with Oil at such high prices, there is likely to be increased interest in buying the stock. This stock has a long history of generating big rallies that normally cause the stock to increase in value at least 250% or more. The fundamentals currently in place and the chart action being seen, does suggest that this could now be one of those rallies. The 200-day MA is currently at 2.06 and that could be an objective-to-be-reached within 1-3 weeks, if and when a weekly close above 1.61 occurs.

FSLR reported earnings this week and they were worse than expected but after an initial drop of 16.7% occurred, the bulls were able to recover to where the loss from the high of the week was only 5.4%. As it is, the stock did generate a green weekly close, having closed above the previous week's close at 70.68 (closed at 71.85). The stock closed in the upper half of the week's trading range and further upside above last week's high at 76.94 is expected to be seen. In using the weekly chart, there is no resistance above until the $90 level is reached. It is important to note that on the daily chart, the stock now shows a successful retest of the multi-month low at 61.24 with last week's low at 63.05, meaning that a bottom to this downtrend is now likely made. Confirmation of such a bottom will occur if the stock does go above last week's high at 76.94. It is also important to note that with Oil now being at these very high prices, demand for clean energy sources (such as solar power) is now likely to increase, suggesting this move up is likely to be supported fundamentally.

PLNHF generated an uneventful inside week but did generate a green weekly close and a close near the high of the week, suggesting further upside above last week's high at 2.86 will be seen this week. The green weekly close does make the previous week's close at 2.75 into a successful retest of the multi-month low weekly close at 2.62, suggesting that a bottom to this downtrend might have been found. A weekly close above 3.09 would confirm such a bottom is in place. Using the daily chart, any daily close this week above 2.82 would give the bulls the short-term edge. Nonetheless, a daily close above 3.25 is needed for the bulls to gain short-term control. Any daily close below 2.58 would now be a decent negative. Probabilities favor the bulls.

ZLAB generated a new 26-month weekly closing low and did close on the low of the week, suggesting further downside below last week's low at 39.82 is expected to be seen. The stock broke an established weekly close support at 43.42, which was not expected to occur, especially since there was no negative news released this past week. There is "some" established support around the $40 level but it is minor in nature. The bears fell short by $.07 cents of breaking the intraweek support at 39.75 that was set on January 28th. If by any chance the bears fail to take the stock below 39.75 this week by more than a few points, the possibility of a double bottom being built will start to occur. According to the rating companies, there is no fundamental reason for the stock to be at this low price. There is some minor but short-term pivotal daily close resistance at the $50 demilitarized zone, meaning that if the stock closes above that level without making any new low of consequence, it would suggest the worse is over. Pivotal daily close resistance is found at at 59.33. On a very short-term basis and using the intraday 10-minute chart, a close above 42.10 will take some of the selling power away and a close above 43.42 would give the bulls some new ammunition. Nonetheless, this is the 10-minute chart, which is not dependable for more than 1-week (and often less).