DSW - On watch this week

18 Mac 2018

Will watch to see how high DSW can climb before it's ex-dividend date on March 22. Consider looking for a top AFTER that date and a short sale. Stock is already more than 10% extended from 50 MA. Earnings are mixed - operating margin has increased and sales are mixed. Would expect profit taking at that point and a price decline. If stock goes above $22, I will look for weakness on intraday charts on March 23rd. Ideal entry >$22. Target is fib retracement = $20.78. Would also consider SPY behavior by middle of week, weak or strong, into the equation.

28 Mac 2018

Nota

Still watching. May break through supply area...has been impressive so far considering the bearish environment and volatility. Seems strong however we have a kangaroo tail indicating selling pressure. Tomorrow will be the day whether yay or nay!