I teach channels last 3 to 5 touches, before breakout or breakdown. This can happen at any upper or lower trend line touch, depending on both sentiment (short term company actions) or phycology (longer term investor belief).
On a channel break out you add the channel to the top for target and breakdown you subtract the channel from bottom for target.
Since the channel was a down channel one should expect phycology to be negative resulting in eventual break down. If it was an up channel one should expect the opposite. Sideways channels are 50/50. But close attention should always be paid at trend line touch points.
After any target reached, expect a basing of price, before price moves to new true value. Basically a null from a technical traders stand point. No idea what to expect next, until a new pattern or trend is seen.
News 
Market Data 
Discover 
