Designer Brands Inc has seen price top out over the past few weeks.
After a strong “Go” trend that lasted for several months we have seen the GoNoGo Trend change from blue and aqua bars to first amber “Go Fish” and finally to pink and purple “NoGo” colors. When the trend in price was strongly bullish, we saw how the GoNoGo Oscillator repeatedly found support at the zero line, reminding us that there was momentum continuing to side with price trend. Toward the end of May, the oscillator struggled to find support at zero, and we saw it break into negative territory on heavy volume (dark blue oscillator color). This led price slightly and the “NoGo” followed soon after. Now, having retested the zero line from below, it appears that the “NoGo” trend has strengthened (purple bar) and the red circle above price tells us that momentum is now showing signs of heavy selling. If this continues, price could test the lows around $13.
