Price channels

A price channel is a pair of parallel trend lines that form a chart pattern for a stock or commodity.Murphy, pages 80-85 Channels may be horizontal, ascending or descending. When prices pass through and stay through a trendline representing support or resistance, the trend is said to be broken and there is a "breakout".Murphy, pages 400-401

See also Bollinger Bands Control chart Donchian channel Richard Donchian

References

Further reading John J. Murphy, Technical Analysis of the Financial Markets, New York Institute of Finance, 1999,