This 120m chart of PVH shows the stock breaking lower through trendline support. The move off the high is in 5 Waves, which means it is likely Wave A of a correction or Wave 1 of a larger downtrend. Either way, this is an opportunity to sell into Fibonacci resistance ahead of the next wave down. Initiating a short position at 153. Immediate target is 140 with an extension lower. A move above 169 invalidates the setup.