Channeling
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Channeling is the word that describes the tendency (of many stocks) to bounce up off a lower support zone or trend line and then to move up and eventually bounce down off an upper resistance zone or trend line. When this behavior extends over many bars, it forms a price channel that the stock appears to be following. Channels can be horizontal, upward-sloping or downward-sloping. Price channels, if they exist, are very easy to identify when trend lines and support/resistance zones are displayed on a chart.
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