UFT - Wait for Break - Channel Formed?

UFT looking like its struggling after the recent break out and broke down on the RSI. But on the upside it looks as a channel has formed.

Looking for down trend line to be broken on chart and Stoch.

Hitting a daily resistance level now for possible bounce, if not the red channel will be the next support(hopefully).

Looking for a bounce of the bottom channel, with a target price to the upper channel!