Horizonte Minerals (HZM) - Long Trade

Hikiki Updated   
Horizonte Minerals PLC is a United Kingdom-based nickel development company.

Monthly low in Feb 2009 (red horizontal line) target entry. Which is also the gap fill 'region' created in August 2019.

Hammer candle formed on daily today. Suggesting todays drop was overdone. Also starting to look oversold on the daily.

2:1 Risk/Reward trade.

STOP: 2.8 ( ish ).

Downside: 15% risk to below the daily 200ma which is around 2.89.

Weekly 200ma is around 2.96 and 78.6% FIB is around 2.80.

Both daily and weekly moving averages, as well as the FIB level should act as half decent support.

Upside: AT LEAST 30%. Back to 50% level and previous (recent) highs.

Fundamentals: Further funding news is expected in the not too distant future. This week’s drop looks overdone. Drop in nickel price and global markets getting hammered are most likely to blame (rather than a company issue).


I have taken a ’trade’ today at 3.26. Shorter term.

However, HZM is also one I hold as a long term investment in an ISA (and have done since 2015). With a 2p average. Thus, my ‘trade’ view may be biased because of my long term holding ;-)

Trade closed manually:
Well this was a slightly different ride for the ‘trade’ than I had planned due to the rapid change in the economic climate around the world.

However, patience is a wonderful thing. I have now closed the shorter term trade position I had for a 15% profit. Short of the initial target, but profit is profit. I still continue to hold my long term ISA position.

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