Macy's $M has made an impressive recovery since late 2017 when share price tagged a low just below $18. The high in 2018 so far is at $42. This bull run however might have run its course. Macy's Daily Chart(click to enlarge)Price Top:- The daily chart shows that price stalled under $42 twice, forming a price top. - Price has broken below the double top.- Also, price has slid below the 50- and 100-day simple moving averages (SMA), although it is still above the 200-day SMA.- Price is cracking a rising trendline support and falling below a recent support pivot at $34.70.- If price closes below $34.70 by the close of this week, we should anticipate further downside. - The RSI reflects a market that is maintaining its prevailing bullish momentum, but is at the last line of defense. - I think M has downside towards the $30 level for now. - However, if M holds above $32.50 and the 200-day SMA, we should see if it can climb back above $36. This price action would suggest bullish continuation.