Kinetic Engineering Ltd: Trading near multiyear breakout zone

Kinetic Engineering Ltd is looking good on longer time frame. Today Company has announced fund raising through preferential issue. This can be a good trigger for expected company growth in future. Generally whenever a company brings preferential issue , price moves well. Recently shared company Riddhi Corporate also bring preferential issue back in Sept'22 and price move well within a period of 1-2 months. Although current scenario is different due to ASM /ESM Measures. But still we can expect good runup based on historical data.
Keep on radar for multiyear breakout.