Understand that I have nothing personal against DSW or people that are long this stock, just making a short play based on it being stretched up on news and the market wanting to head lower. A very logical first target for me was 60.00 , hit it at the open, took a layer off and then it graciously moved back up to yesterdays close to put it back on! GRAVY.
Target 2 would be 58.80 level. This is a 50% retracement from the close before the opening gap and the highs of Tuesday. Coincidentally, this is also right near the opening price for Tuesday...hmmm interesting confluence of price signals, could be a very strong attraction to that 58.88 level
3rd target is 55.80 which is the close the day before the gap, expecting a full gap retracement would be normal given the current market conditions.
next target would be the pivot low of 53.83 and then 51.84 If yo are long, why not take profits, you WILL have an opportunity to get in at a better price.
Obviously there are no guarantees, only probability of outcome. Don't bury your head in the sand and HOPE market conditions change they are what they are. Acknowledge it and ACT accordingly. If the S and P closes below the 1295 level, this market is in serious trouble. That's only 4 points away as I write this.