China DangDang looking solid as a swing-trade long
Stock: China DangDang (DANG)
Long or Short: Long
Entry Range: $4.55-4.60
Chart: China DangDang (DANG) Daily
Reason for Trade: Long-term downtrend has finally broken in a decisive manner. It has consolidated nicely above this trend-line while holding onto the 8-day exponential moving average as support.
My plan is to continuously tighten my stop-loss on DANG as the stock appreciates in value. So essentially I am using that 8-day EMA as a trailing stop-loss basically.
This stock was also mentioned in my previous post on all the stocks I was watching for possible swing-trades to the long side.
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