Philip P. answered 11/12/14
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f(x) = |x| means:
⌈ x if x ≥ 0
f(x) = <
⌊ -x if x < 0
So when x ≥ 0, f(x) has a slope of +1 and is thus increasing. When x < 0, f(x) has a slope of -1 and is thus decreasing.