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.
Comment:
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!