China Hongxing forms BULLISH "Bottom Triangle" chart - 6th Jan 2009

A "Bottom Triangle" chart pattern formed on China Hongxing. This bullish signal indicates that the price may rise from the close of 0.21 to the range of 0.30 - 0.32. The pattern formed over 48 days which is roughly the period of time in which the target price range may be achieved.

A Bottom Triangle/Wedge is considered a bullish signal, marking a possible reversal of the current downtrend. The pattern is formed during a downtrend and shows two trendlines converging. The technical event occurs when the price breaks upward out of the Triangle/Wedge formation and closes above the upper trendline, thereby confirming the pattern.

This bullish pattern can be seen on the following chart and was recognized by Recognia Inc.'s patent pending pattern recognition technology.