Jrussell86
Long

Ascending triangle forming

NASDAQ:GURE   GULF RESOURCES INC
Within *8 year Symmetrical triangle.
50Dma now tilted up. *>50% Undervalued.
DCF Models put fair value @ 7.06-19.88
D/E&DA <.01; *Current Ratio≈36*

Ascending triangle forming since November brings opportunities to accumulate at safer prices. This daily formed after bouncing off bottom downtrend boundary. Ascending triangles are bullish in nature as demand line rises towards supply line, but are not reliable upward breaking patterns however they do show that sentiment may be changing and that a reversal may be near.

This Ascending triangle is forming within and near the lower boundary of an 8 YEAR symmetrical triangle.

MACD crossing above 0 on daily signalling upward momentum.

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