Spongetech Delivery Systems, Inc. (fka SPNGQ)

[pennystock1]

I think you are reading this chart wrong. Descending triangles occur in downtrends typically. If you haven't noticed we are in an uptrend (you have to look at the chart as a whole here not just the past week and a half).

This chart is a clear bull flag. Go back to April 6th on the chart and you will see the same thing forming and you will see the result of a break in the bull flag. It usually results in a big pop in price that then settles into a new level of consolidation of the overall uptrend.