L Brands (LB) is another victim of the amazon threat. That means, it has also been sliding in the last couple of years.L Brands (LB) Monthly Chart(click to enlarge)Falling Knife:- After reaching heights aroudn 100 by the end of 2015, LB started to fall sharply.- We can see that the dip has been sharp, and we are in another extension after a few months of consolidation. It is once again a falling knife.- I would anticipate further downside until 30 and maybe a little lower. - Note that after the 8/16 session, LB announced more or less expected earnings but lowered its guidance causing shares to slide 7% by 7:00PM EDT.Support:- This 27-30 area represents a critical support/pivot area. - While, there will likely be support here, I think the upside will be limited. The Amazon Threat is here to stay and we have yet to see the full extent of its disruption. That means, who knows if the market still has more uncertainty to price in. At least, the threat will limit the upside unless LB can bring excitement with a different business model/partnership etc. - With these considerations, I think price will get sticky around 30, where we'll see another period of consolidation.