channel
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channel
In charting, a line connecting a series of high points accompanied by a parallel line connecting a series of low points. The two parallel lines compose the channel in which the variable (for example, a stock price) has been moving and is expected to continue moving. An ascending channel indicates a bullish trend, while a descending channel represents a bearish trend. Breaking downward through an ascending series of low prices or upward through a descending series of high prices indicates a likely change in trend.