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
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)