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L Brands (LB) to See Resistance Around 50-52

L Brands $LB has been recovering since it tagged a low around 35 in August this year. Price has since rallied and closed at 48.25 after the 11/9 US session. There might still some short-term upside, but we should anticipate resistance around 50-52.

LB Daily Chart

(click to enlarge)

Pending Resistance:
- It looks like a couple of things are going to happen soon.
- First of all, price will meet a falling trendline resistance if it continues to march higher, towards the 50-52 area. 
- Secondly, the RSI will likely show overbought condition as it pushes above 70. 
- With these signs and a prevailing downtrend, I think we should anticipate selling in the 50-52 area.