Keeping an eye or retracement levels and volume
Haydale it's experiencing a correction of 78% since it's last swing up. We observe that the volumes in this correction are not too high in comparison to the volumes in the upwards movement.
There's a high chance that the price will stop falling at the 78% retracement level and then recover it's path upwards in the following days to the next swing high which could likely be at 9.12p or above.
We doubt the price will continues to fall but if it does it will likely won't be below the 55 EMA.
Regarding the fundamentals, Haydale has released an RNS today(24th of Feb) with good news. The group has managed to remain resilient during the covid crisis and the loss of revenue is minimal(5%). Also they managed to reduce by 35% expenses and they are scaling their orders an production.
There's a high chance that the price will stop falling at the 78% retracement level and then recover it's path upwards in the following days to the next swing high which could likely be at 9.12p or above.
We doubt the price will continues to fall but if it does it will likely won't be below the 55 EMA.
Regarding the fundamentals, Haydale has released an RNS today(24th of Feb) with good news. The group has managed to remain resilient during the covid crisis and the loss of revenue is minimal(5%). Also they managed to reduce by 35% expenses and they are scaling their orders an production.