Does this channel reflect shoppers sentiment?

30 1 1
Urban Outfitters             was rejected at price around 40 which coincide with the downtrend upper resistance channel and previous resistance in Oct 2014. Price might want to retest the resistance again..

Two possible targets if price continue southward marked by down arrow

1st: around 34.67
2nd: around 30.45 (if 1st fails to support)
abit late in the short but still decent profits :-)
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