Hi madmacs,
I've found fibs to be really useful actually. They are more powerful when used in conjunction with other forms of technical analysis for sure.
The reason why I think the fib 50% level is important here is because it looks like there is an Elliott Wave pattern in play. The share price is coming to an end of wave 4. Wave 4 is typically between a 23.7% to 50% fib retracement.
There is also that previous resistant at 6.9c which can act as a support level for upward movements.
XPE Charts, page-5406
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