Grapefruit USA Inc (GPFT)

[blebovits2000]

Imaging3 Inc forms bearish "Top Triangle" chart pattern

2009-12-15 02:33:19.892 GMT

A "Top Triangle" chart pattern formed on Imaging3 Inc (NASDAQ Stock Exchange).
This bearish signal indicates that the price may fall from the close of 1.15
to the range of 0.10 - 0.30. The pattern formed over 21 days which is roughly
the period of time in which the target price range may be achieved.
Imaging3 Inc has a current support price of $0.67 and a resistance level of
$1.22.

A Top Triangle/Wedge is considered a bearish signal, indicating a possible
reversal of the current uptrend to a new downtrend. The pattern is formed
during an uptrend and shows two trendlines converging. The technical event
occurs when the price breaks downward out of the Triangle/Wedge formation and
closes below the lower trendline, thereby confirming the pattern.

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

Click here for chart with pattern

Recognia Alert Wire content is generated at market close by Recognia Inc.
(www.recognia.com). Recognia has developed proprietary technology for chart
pattern recognition and automated interpretation based on the standards of
technical analysis. Recognia's system scans all financial instruments across
covered exchanges and generates news alerts for those that have formed one of
more than 25 patterns.

The information contained herein is provided as is and Recognia does not
warrant the accuracy or the use of the information for any purpose. Recognia
reserves the right to change the information and/or the method of its
presentation or analysis at any time. This information may not be construed as
investment advice or trading recommendations.

For further technical analysis of this financial instrument -- including
interpretation of patterns and indicators -- launch Recognia Technical Events
RCOG.

-0- Dec/15/2009 02:33 GMT