DSW's Stock Surge Puts It On Track For Best Daily Gain Since Its 2005 Public Debut

By Mark DeCambre Markets MarketWatch Pulse

Shares of DSW Inc. were on a tear on Tuesday, putting them on track to log their best one-day gain in the company's 12-year history as a publicly traded entity on heavy volume. DSW's stock was most recently trading up 21%, which would represent its best daily ascent since the Ohio-based shoe-retailer went public in June 2005. Its second best daily rise was a 16.9% rise May 24, 2011, according to FactSet data. The company was seeing nearly 8 million shares exchange hands, about 5 times its 30-day average of 1.7 million shares. Tuesday's late-morning surge to an intraday peak of $19.39 also vaulted shares decisively above both their 50-day moving average at $17.40 and 100-day moving average at $18.22, with its 200-day, long-term average not far off at $20.08. Chart watchers consider moving averages dividing lines between uptrends and downtrends in an asset. DSW's CEO Roger Rawlins said the company saw a significant increase in sales of regular-priced items in its second quarter and that consolidation in the industry may mean that the company has an opportunity to acquire market share moving forward. A bullish turn could help DSW, which has given up 16.4% year to date, trend higher. Comparatively, the S&P 500 index boasts a year-to-date climb of 9.2%, while the Dow Jones Industrial Average has climbed 10.5% so far in 2017.

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