Should back up here slightly and mention that in 1884 Dow published his first stock market average of 11 stocks.
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So it is with channels, as these too must be adjusted as the trend accelerates or decelerates.
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In an up trend, as prices come back to the trend line, new increased buying comes into the market and overwhelms the sellers.
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You see any succession of event's particularly independent events can have an aberrant run.
As you can clearly see from the diagram, the trend line can change slope as the trend may move at different rates and it is mandatory to adjust the trend as necessary.
In our example I have used a 9 period moving average and an 18 period moving average on both of the closes.