Clear bull and bear cases for this one. I like the bull side, for me this has never fully retraced satisfactorily from the r cent highs and gained consolidation strength. The 50% Fib level does look like a real pivot level but it has been tested aggressively twice now and found buyers sub 7.5p. Possibility of a larger background sell in my view too.
After a long period of trading the 20DMA and retracing no more than 50% we had an Intraday 78.6% retrace with full day retrace settling at the 61.8% level. Techs have started to advance along with the price and I think the 20MA is probably now the only barrier to a sharp move towards the 161% extension at 16p