$JSECSB - Cashbuild Ltd: How Much Lower Can The Stock Go?

Since the last analysis on the 15th of February 2023, Cashbuild released an awful set of interim results on the 1st of March.
Revenue (4%)
Gross profit (9%)
Operating profit (47%)
Headline earnings (39%)

The market did not react aggressively to these disappointing numbers but the share has continued to trend lower.
There was not much of an outlook besides "Management expects trading conditions to remain challenging."

The bear from 34599 is still trading around the lower channel trendline and the MACD zero-line rejection could be a leading indicator of another potential sell-off.

It is difficult so see an improvement in operations in the short-term and the share price is not showing any reversal signals leading me to ask how much lower can the share go?
This is a difficult question to answer as there isn't any clear support levels on the chart but at the same time it is maybe a little late to short.

This is where fundamentals and valuations come in for investors.
Investing.com Pro has a fair value of R229,47 which represents 33,8% upside.