India, Oct. 22 -- An ascending channel chart pattern is formed by drawing two parallel, upward-sloping trendlines that enclose a stock's price action. The upper line connects higher price peaks, which acts as a resistance trendline, while the lower line connects higher price troughs, which acts as a support trendline. It shows a steady, controlled upward trend where buyers step in at higher lows and sellers take profits at higher highs. In this pattern formation, the price breakdown from the lower trendline indicates potential bearish momentum. The above chart shows the clear formation of the ascending channel chart pattern, and the price broke below the lower support trendline and retested the same support; it clearly signals potential ...