PCG - an "Inside Range" trading opportunity

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PCG has been trading in the $48.6 to $39.4 range for the last 2-21/2 years (can be seen nicely on a monthly chart). It has just turned down from the R level and semi-confirmed the downward motion with a secondary, lower, peak.
A short, at the current level, will yield ~1:10 risk/reward ratio (if we have the stop-loss at the recent peak) or a conservative 1:6.5 (if we put the stop-loss at the R level.
Yesterday (July 15th) was OKR, so today may be a good entry point.
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