That's interesting that the lower trendline is lined up exactly, although if you include the October low then it throws it off.
Back in my Stockcharts.com 'chart-school' days, TA expert Art Hill used trend lines a lot in his videos, but I always preferred using the regular support and resistance levels based on moving averages and the previous highs + lows. But using trendlines can work especially well as a signal if there is a well established uptrend or downtrend or a channel.
With RIBT, the 1.00 area is key support based on both the 50 MA being there, plus from it being at the lower trendline, and also from 1.00 being a key psychological level.
However, using trendlines, the RIBT chart can also be interpreted as having an uptrend starting in Oct and ending in Feb, followed by a sideways consolidation from March to June. If you do a trendline that includes the Oct low, then that (steeper) trendline was already broken in April.
With TA, I try not to get too crazy with it. Using the basics as a supplement to fundamental analysis seems to work best. Art Hill always stressed that TA should be one component in an investor's overall toolkit.