Channels have parallel lines. These two blue lines are converging and ultimately touch, forcing price to break upward or lower.
The pattern is a horizontal triangle. Those two lines are clearly not parallel.
If the history of the last few months repeat, price bounces off the lower blue line (which is actually floating above, and sometimes touching, SMA(100)) then goes higher until price reaches the upper blue line.
Teva is being held down by a "price fixing" law suit. Other companies (identified within that same law suit) have settled (AKA bought their way out by forking over money without admitting fault), but TEVA refuses to do that (and probably for good reason as they were just following the pricing of the other companies they were competing with).
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