VHI 60 minute June 25th
VHI (Valhi Inc) has taken out the 5.50 resistance level, triggering an entry for the most recent aggressive trade posted earlier today. I have added some near-term resistance levels to this 60 minute chart which can be used as price targets. Normally I list my price targets slightly below the actual resistance level in order to help avoid missing a fill, should the stock reverse just shy of resistance. However, I wanted to get this chart out asap due to the potential for a fast move in VHI, should the momentum traders start piling in. As such, consider setting your sell limit order slightly below your preferred target level(s). Stops should be dependent on one’s unique cost basis and preferred target(s), as well as their own trading style. Remember, limit orders to buy & sell are usually preferable in thinly traded stocks however, when trading volumes pick-up, like they have on VHI today, market orders can be used I’ve noticed the spread running tight from about 1-3 cents so far today.