It seems like the price is trading on sentiment right now.
The Positives:
There is talk that the curve has been suppressed. The worst in Spain and Italy seem to be over. Austria is looking to relax the lockdown.
The Fog: However, we miss fundamental news. That, if you know more about please let me know.
How soon will the airline be allowed to operate again? And where will they be allowed to fly to? Will there be an effect on how many roundtrips can do due to more strict security measures. What will demand be for airline travel? How long did it take for airline travel to be back to normal after 9/11 ( I think quite some time). Are they in need of a bailout? If yes, who will pay for it? Will there be one for all EU airlines?
Range: The 52 week high is 16 I think it will take quite some time before we go back to that high. Read "This stock will not pop overnight"
investegate.co.uk/ryanair-holdings-plc/rns/ryanair-holdings-plc---covid-19-market-update/202005010700045721L/