KAB - Price consolidation after 1 month sell down period

Observation

Price movement is sideways, in the zone of 0.39 to 0.41.

MACD is crossing up - bullish potential
MACD bullish divergence pattern is formed
Estimate that the EMA 9 will cross up within 1 - 2 weeks to create a bullish pattern

Supports - 0.40 / 0.37
TP - 0.43 / 0.46 / 0.53 / 0.57 / 0.61

Potential threats

Private placement of 169,180,000 is under process. On 1 Sept, 32.5 Mil shares (20% ) was fixed at 0.40 / share. Could there be further selling pressure to reduce the VWAP to get a more favorable private placement pricing

Potential benefit

Price of 0.395 - 0.40 is as bad as it was when Covid crash occur in 2020
Company revenue has been increasing, although profit is showing declining trend
Engineering, construction related stock, which is anticipated to benefit when the Construction sector play kicks in, usually after budget tabling on 7 October.

My estimation, will reach back 0.57 - 0.61 within next Q (Dec 2021)