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Possible Bearish Inside Day Candle Pattern Detected for Dsw Inc-Cl A (NYSE:DSW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dsw Inc-Cl A (NYSE:DSW) based on the price action in the company's shares. Today's price range of $27.71 and $28.02 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Dsw Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $27.89, Dsw Inc-Cl A is currently 17.9% above its average consensus analyst price target of $22.91. The stock should discover initial support at its 50-day moving average (MA) of $25.73 and subsequent support at its 200-day MA of $22.04.

In the past 52 weeks, Dsw Inc-Cl A share prices have been bracketed by a low of $15.14 and a high of $28.34 and are now at $27.89, 84% above that low price. The 200-day and 50-day moving averages have moved 0.54% higher and 1.31% higher over the past week, respectively.

DSW Inc., is a specialty branded footwear retailer operating in the United States. The Company offers a wide selection of brand name and designer dress, casual, and athletic footwear for women and men.

SmarTrend is tracking the current trend status for Dsw Inc-Cl A and will alert subscribers who have DSW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle dsw inc-cl a

Ticker(s): DSW