Here it is Macy's. we saw twice overbought levels wich led the price to reach the main trend support. This is the 3rd time and with a divergence. the price can be shorted now and for that, i would suggest to place a stop loss at or above the resistance. The only risk we encounter here, is the price to reach the middle trend support and then bounce back to the top.
I see Macy's strengthening within the slope of your channel. A line that was once resistance in 2011 is now supporting price action since Dec. 2013 and the upper channel line gave way to raise the slope for a higher target. Sit a green line parallel below current price to identify the new path of price. The RSI indicating a +reversal by making new lows when price is making higher highs. I'd stay long for now.
Thank you for your opinion Yabi, that's why i think it's a risky trade to short now. We could short now and expect a ~15% return but it would be safer to wait for the price to break the middle trendline and then short it and still get the ~10%. Anyways I agree with you and for now i didn't take any positions, if the price breaks the resistance line and the resistance trendline it might be a good choice to go long.