MGT Chart 2021, page-217

Sorry accidentally posted before finishing
As you can see squeeze is on in recent trend indicating break out, with support (5.6c) established above a Longer term sup/res line 5.2c (middle blue line).

IMO recent days have shown our first major test of support in our new range following our ATH resistance testing (7.8c), with PFS due any week this Quarter i believe we will see SP climb and consoldate in our current range throughout May whist we wait on news, I dont see us breaking 7.8c before options expirey as I feel options conversion would start capping SP above 7c, lacking a sucessful PFS or significant news release before then.
We could even be seeing the first half of a cup in a C&H pattern developing... who knows, all im saying is indicators, fundamentals and near term project milestone completion speak contrary to the level of retracement your indicating.