closed above tline & 20ma daily - trend line brake soon?Today was a good day for HZM and we finally managed to make a move above 8ema & 20ma, hopefully we hold the 20ma and start moving to break the trend line and 50ma.
October is the catalyst for a Feasability study to come from Horizonte Minerals.
I believe the mcap should re-rate when we are closer and news drops.
Expect at least a target of 5.20+
HZM
HZM possible elliott wave count, 1st target 5.5-6p then 7p&8pHZM possible elliott wave count, 1st target 5.5-6p then 7p&8p
I think we're about to start a wave 5
HZM - Approaching Buy ZoneFundamentals of HZM seem strong, with the BFS on their flagship asset due in the coming weeks. That being said, a persistent seller has been present over the past several months, resulting in the share price drifting lower.
Recent cross of the 50 and 200 MA is usually a bearish sign, and the price has now dropped below the 61.8% fib retrace level. Recent support levels line up roughly with previous resistance levels, so potential around the 3.5-3.6 levels for a bounce over the coming weeks, particularly given the RSI approaching 30.
Ultimately I think the BFS will move the share price upwards quite dramatically as the project begins to look like a reality, especially if funding plans are already progressing; in the meantime, worth keeping an eye on for a slightly lower buy price. Nickel is also looking bullish for the coming years, giving the potential for HZMs projects to coincide perfectly with strong prices.
BULLISH respecting the 50ma weekly - CCI turning to upsideThis chart setup is fantastic, it seems that it respects the 50ma weekly (blue) since April 2016.
also holding the 618 fibs from last rise.
I bought in last week at around 4.15p as I like the chart setup plus the Feasability Study is coming up in a few weeks, around August I believe.
WATCHING FOR ENTRY - 618 fibs & 50ma weekly touchThis penny stock every time it touches the 50ma weekly timeframe it bounces.
It has bounced over 7 or 8 times with one being a false drop below it over the course of 2 years.
For me the buying area will be 4p-4.05p if it lands.
HZM HORIZONTE MINERALS 4 hr chartHZM BUY SIGNAL ON THE 4H CHART. BOUNCED OFF THE 200MA, 50% FIB RETRACE & PREVIOUS RESISTANCE WHICH NOW LOOKS LIKE IT WAS SUPPORT. ITS BROKEN ABOVE THE 20EMA AND TREND LINE. RSI TURNING UP AND ALSO POSITIVE DIVERGANCE ON THE CCI (FXSNIPER)
STOPLOSS JUST BELOW THE 200MA
SEE CHART FOR TARGETS
IM NOT LONG YET BUT LOOKING TO TAKE A POSITION
