CPN 1.89% 5.4¢ caspin resources limited

CPN Chart, page-400

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    I keep lowering the slope of the trend lines! (this doesn't look too bad). Quarterly had the predictable effect of another sell-the-news day. Should be support around this level, and the big gap has closed. I need some help with Fibonacci interpretation. If you take the range from 0.61 to 2.92, 38% of that is 0.88, which is today's closing price - but the price is 0.88 from zero, not from 0.61. Does this make sense or coincidence?

    https://hotcopper.com.au/data/attachments/3408/3408569-44222b12e29601eddd59a7760c214ab9.jpg
 
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