MGT Chart 2021, page-78

I think you are right, on the daily data SP has retraced to the MA's again; which just happens to be at recent price actions support (aprox 6c), MACD has converged above histogram levels and still trending up and indicators are oversold or in optimal buy ranges based on how we are traded.
Overall we are looking at a nearing breakout, we have had an initial test of support then a solid test of resistance at 7.8c and in recent days we have tested support again.
IMO if we bounce strong off the retest we will make our way back up either for a consolidation high (creating a pennant pattern) or to retest that resistance or if we break that resistance on strong volume, we could see close to 10c before we repeat the churning process.

Otherwise if we break 6c range support (IMO we could dip as low at 5.8 and still be good) with significant volume, then we will see 5c before we see 10c. IMO this is highly unlikely to happen with PFS due this quarter and last Quarters activities report due any day, we should see some confirmation surrounding progress with PFS and in turn reinforce sentiment towards a successful outcome.

Always IMO DYOR GLTASH