India, Nov. 10 -- A descending channel is a chart pattern formed by two parallel downward-sloping trendlines that join a series of lower highs and lower lows. It shows that a stock is in a sustained downtrend, moving steadily between upper resistance and lower support levels. While it reflects ongoing bearish momentum, a breakout above the upper resistance line often signals a potential bullish trend reversal.

GlaxoSmithKline Pharmaceuticals Ltd Chart: Daily Timeframe GLAXO_295169_2026-11-10_16-27-34

The above chart shows the formation of a descending channel chart pattern, and the price breakout above the downward-sloping upper trendline is signalling the probability of a change in trend direction from bearish to bullish in the next t...